Napean Trading & Investment Co Singapore PTE Ltd Increases Stake in Pinterest, Inc. (NYSE:PINS)

Napean Trading & Investment Co Singapore PTE Ltd increased its holdings in Pinterest, Inc. (NYSE:PINS) by 9.5% in the second quarter, Holdings Channel reports. The fund owned 115,220 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. Pinterest accounts for approximately 1.2% of Napean Trading & Investment Co Singapore PTE Ltd’s portfolio, making the stock its 29th largest position. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Pinterest were worth $5,078,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Shields Capital Management LLC bought a new stake in Pinterest during the 2nd quarter valued at $26,000. Hexagon Capital Partners LLC boosted its position in Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC grew its stake in Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares during the last quarter. Rothschild Investment LLC bought a new position in Pinterest in the second quarter worth about $35,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Pinterest during the second quarter valued at about $40,000. 88.81% of the stock is currently owned by institutional investors.

Pinterest Trading Down 5.1 %

Shares of NYSE:PINS opened at $29.25 on Friday. The company has a market capitalization of $20.07 billion, a PE ratio of 139.29, a PEG ratio of 3.57 and a beta of 1.00. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19. The business has a 50 day moving average of $35.26 and a two-hundred day moving average of $37.17.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The business’s revenue was up 20.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) EPS. Equities research analysts predict that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at approximately $16,102,040.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Andrea Acosta sold 2,564 shares of Pinterest stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the sale, the chief accounting officer now owns 186,906 shares in the company, valued at $8,410,770. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the sale, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The disclosure for this sale can be found here. Insiders have sold a total of 36,689 shares of company stock valued at $1,628,002 in the last ninety days. 7.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Barclays cut their price objective on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Robert W. Baird reduced their price target on Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Raymond James lowered their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Piper Sandler dropped their price target on Pinterest from $52.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, KeyCorp dropped their target price on shares of Pinterest from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.65.

Pinterest Company Profile

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.