nVerses Capital LLC Buys 7,000 Shares of Pinterest, Inc. (NYSE:PINS)

nVerses Capital LLC raised its stake in shares of Pinterest, Inc. (NYSE:PINS) by 51.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,700 shares of the company’s stock after acquiring an additional 7,000 shares during the quarter. nVerses Capital LLC’s holdings in Pinterest were worth $670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PINS. Virtu Financial LLC acquired a new stake in shares of Pinterest in the 4th quarter worth $212,000. Wellington Management Group LLP boosted its position in shares of Pinterest by 1,188.9% in the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock worth $221,850,000 after purchasing an additional 5,524,796 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Pinterest by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 56,348,952 shares of the company’s stock worth $2,087,165,000 after purchasing an additional 1,439,595 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Pinterest by 17.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,451 shares of the company’s stock worth $572,000 after purchasing an additional 2,285 shares in the last quarter. Finally, Perpetual Ltd boosted its position in shares of Pinterest by 73.5% in the 1st quarter. Perpetual Ltd now owns 29,388 shares of the company’s stock worth $1,019,000 after purchasing an additional 12,445 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of research reports. UBS Group lowered their price target on Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Evercore ISI lowered their price target on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Citigroup lowered their price target on Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pinterest in a research report on Friday, September 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 price target on shares of Pinterest in a research report on Thursday, September 12th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.32.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.11% of the stock is currently owned by insiders.

Pinterest Stock Performance

Shares of Pinterest stock traded down $0.08 on Thursday, hitting $33.29. The company’s stock had a trading volume of 1,101,196 shares, compared to its average volume of 9,377,521. Pinterest, Inc. has a 1 year low of $23.59 and a 1 year high of $45.19. The company has a market capitalization of $22.74 billion, a price-to-earnings ratio of 158.95, a price-to-earnings-growth ratio of 2.61 and a beta of 1.01. The firm has a fifty day moving average price of $31.35 and a 200-day moving average price of $36.53.

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

Pinterest 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.