9,591 Shares in Pinterest, Inc. (NYSE:PINS) Purchased by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC purchased a new position in Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,591 shares of the company’s stock, valued at approximately $422,000.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Pinterest by 1.8% in the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock worth $1,988,110,000 after acquiring an additional 994,848 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Pinterest by 9.5% in the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock valued at $445,818,000 after buying an additional 880,398 shares during the last quarter. Franklin Resources Inc. increased its holdings in Pinterest by 34.0% in the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after buying an additional 2,548,925 shares during the last quarter. Capital World Investors increased its holdings in Pinterest by 0.7% in the fourth quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after buying an additional 64,270 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Pinterest by 2.2% in the first quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock valued at $283,592,000 after buying an additional 176,540 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Price Performance

Pinterest stock opened at $28.90 on Tuesday. The company has a market capitalization of $19.83 billion, a price-to-earnings ratio of 137.63, a PEG ratio of 3.27 and a beta of 1.00. Pinterest, Inc. has a one year low of $23.59 and a one year high of $45.19. The company’s fifty day moving average price is $33.57 and its two-hundred day moving average price is $36.91.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The business’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) earnings per share. As a group, sell-side analysts anticipate that Pinterest, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PINS shares. JPMorgan Chase & Co. lowered their target price on Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Roth Mkm lowered their target price on Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Citigroup lowered their target price on Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Wedbush decreased their price objective on Pinterest from $46.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Finally, Piper Sandler reissued an “overweight” rating and issued a $45.00 price objective on shares of Pinterest in a report on Friday. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.50.

Insider Buying and Selling at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the completion of the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the sale, the chief financial officer now owns 362,822 shares in the company, valued at $16,102,040.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the sale, the chief accounting officer now owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

About Pinterest

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.