Coronation Fund Managers Ltd. Reduces Position in Pinterest, Inc. (NYSE:PINS)

Coronation Fund Managers Ltd. decreased its holdings in Pinterest, Inc. (NYSE:PINS) by 14.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 225,965 shares of the company’s stock after selling 39,682 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Pinterest were worth $9,958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brown Shipley& Co Ltd purchased a new position in shares of Pinterest during the second quarter valued at approximately $25,000. Wellington Shields Capital Management LLC purchased a new stake in Pinterest during the 2nd quarter valued at $26,000. Hexagon Capital Partners LLC lifted its holdings in shares of Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares during the period. GAMMA Investing LLC boosted its stake in shares of Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of Pinterest in the second quarter worth $35,000. Institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Robert W. Baird reduced their target price on shares of Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Evercore ISI dropped their price target on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company reduced their price objective on Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Oppenheimer started coverage on Pinterest in a research report on Tuesday, September 24th. They set an “outperform” rating and a $45.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.25.

Pinterest Stock Up 1.2 %

Shares of NYSE:PINS opened at $32.77 on Wednesday. The business’s 50 day moving average is $31.50 and its 200 day moving average is $36.62. The stock has a market cap of $22.38 billion, a P/E ratio of 156.02, a price-to-earnings-growth ratio of 3.53 and a beta of 1.00. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19.

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

Insider Buying and Selling at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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.