Macquarie Investment Management B recently announced the acquisition of new stake in Pinterest Inc (NYSE:PINS). The institutional investor has increased its shareholding in the Communication Services company by 2.31% to 21.24 million shares with purchase of 0.48 million shares. This fresh investment now brings its stake to 3.62% valued currently at $723.79 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.1 million to 11.94 million shares. And Columbia Management Investment Ad has lifted its position by 43.63% or 3.3 million shares – to 10.86 million shares.
Currently, there are 593.92M common shares owned by the public and among those 576.73M shares have been available to trade.
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Insiders at the company have transacted a total of 132 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 37 of these insider trades were purchases, accounting for 4,743,399 shares. Insider sales of the common stock occurred on 95 occasions, with total insider shares sold totaling 4,768,183 shares.
The top 3 mutual fund holders in Pinterest Inc are Vanguard Total Stock Market ETF, Vanguard Mid Cap Index Fund, and T Rowe Price Growth Stock Fund. Vanguard Total Stock Market ETF owns 18.19 million shares of the company’s stock, all valued at over $619.85 million. The company bought an additional 31247.0 shares recently to bring their total holdings to about 3.10% of the shares outstanding. Vanguard Mid Cap Index Fund bought 36144.0 shares to see its total holdings expand to 13.22 million shares valued at over $450.31 million and representing 2.25% of the shares outstanding. T Rowe Price Growth Stock Fund sold -2.39 million shares to bring its total holdings to over 9.58 million shares at a value of $326.52 million. T Rowe Price Growth Stock Fund now owns shares totaling to 1.63% of the shares outstanding.
However, the script later moved the day high at 38.11, up 0.88%. The company’s stock has a 5-day price change of 6.62% and 43.84% over the past three months. PINS shares are trading 55.27% year to date (YTD), with the 12-month market performance up to 49.84% higher. It has a 12-month low price of $20.60 and touched a high of $37.48 over the same period. PINS has an average intraday trading volume of 11.80 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.12%, 22.62%, and 38.06% respectively.
Institutional ownership of Pinterest Inc (NYSE: PINS) shares accounts for 74.53% of the company’s 593.92M shares outstanding. Mutual fund holders own 42.19%, while other institutional holders and individual stakeholders account for 43.84% and 3.62% respectively.
It has a market capitalization of $25.42B and a beta (3y monthly) value of 1.02. The earnings-per-share (ttm) stands at -$0.32. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.56% over the week and 2.43% over the month.
Analysts forecast that Pinterest Inc (PINS) will achieve an EPS of $0.51 for the current quarter, $0.13 for the next quarter and $1.31 for 2024. The lowest estimate earnings-per-share for the quarter is $0.47 while analysts give the company a high EPS estimate of $0.59. Comparatively, EPS for the current quarter was $0.29 a year ago. Earnings per share for the fiscal year are expected to increase by 74.30%, and 19.95% over the next financial year. EPS should grow at an annualized rate of 38.90% over the next five years, compared to 9.71% over the past 5-year period.
Looking at the support for the PINS, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Outperform rating for the stock in a research note on December 11, 2023, with the firm’s price target at $32-$46.
