Mitsubishi UFJ Trust & Banking Corp lifted its stake in Pinterest, Inc. (NYSE:PINS) by 77.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 638,297 shares of the company’s stock after acquiring an additional 277,641 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Pinterest were worth $47,220,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Xponance Inc. lifted its stake in shares of Pinterest by 0.4% in the fourth quarter. Xponance Inc. now owns 34,707 shares of the company’s stock valued at $2,287,000 after buying an additional 134 shares during the period. First Horizon Advisors Inc. lifted its stake in Pinterest by 5.6% during the fourth quarter. First Horizon Advisors Inc. now owns 2,858 shares of the company’s stock worth $187,000 after purchasing an additional 152 shares during the period. Dfpg Investments LLC lifted its stake in Pinterest by 0.4% during the first quarter. Dfpg Investments LLC now owns 40,520 shares of the company’s stock worth $3,223,000 after purchasing an additional 156 shares during the period. Credit Agricole S A lifted its stake in Pinterest by 8.0% during the fourth quarter. Credit Agricole S A now owns 2,160 shares of the company’s stock worth $143,000 after purchasing an additional 160 shares during the period. Finally, Argent Trust Co raised its stake in shares of Pinterest by 1.2% in the fourth quarter. Argent Trust Co now owns 15,140 shares of the company’s stock valued at $997,000 after acquiring an additional 180 shares during the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.
In related news, SVP Naveen Gavini sold 26,259 shares of the company’s stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $70.83, for a total value of $1,859,924.97. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Tseli Lily Yang sold 2,560 shares of the company’s stock in a transaction dated Thursday, May 27th. The shares were sold at an average price of $63.00, for a total transaction of $161,280.00. The disclosure for this sale can be found here. Insiders have sold a total of 797,592 shares of company stock worth $55,123,114 over the last 90 days. 8.45% of the stock is owned by company insiders.
Pinterest stock opened at $68.25 on Friday. The firm has a market cap of $43.47 billion, a price-to-earnings ratio of -1,137.50 and a beta of 1.24. The business’s 50-day moving average price is $68.50. Pinterest, Inc. has a fifty-two week low of $20.07 and a fifty-two week high of $89.90.
Pinterest (NYSE:PINS) last released its quarterly earnings data on Tuesday, April 27th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.19. The company had revenue of $485.23 million for the quarter, compared to analyst estimates of $471.49 million. Pinterest had a negative net margin of 0.46% and a positive return on equity of 4.86%. Pinterest’s revenue for the quarter was up 78.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) EPS. As a group, equities research analysts predict that Pinterest, Inc. will post 0.09 EPS for the current year.
Pinterest, Inc provides visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others. It shows them visual recommendations based on people personal taste and interests.
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