Wade G W & Inc. purchased a new stake in Pinterest, Inc. (NYSE:PINS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,754 shares of the company’s stock, valued at approximately $529,000.
A number of other institutional investors and hedge funds have also modified their holdings of PINS. Cornerstone Capital Inc. lifted its holdings in Pinterest by 1.0% during the 3rd quarter. Cornerstone Capital Inc. now owns 30,385 shares of the company’s stock worth $1,261,000 after buying an additional 295 shares during the last quarter. US Bancorp DE lifted its holdings in Pinterest by 5.7% during the 2nd quarter. US Bancorp DE now owns 5,891 shares of the company’s stock worth $130,000 after buying an additional 316 shares during the last quarter. Optas LLC lifted its holdings in Pinterest by 0.6% during the 2nd quarter. Optas LLC now owns 75,453 shares of the company’s stock worth $1,673,000 after buying an additional 443 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Pinterest by 2.5% during the 3rd quarter. CIBC Asset Management Inc now owns 20,207 shares of the company’s stock worth $839,000 after buying an additional 500 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in Pinterest by 488.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 635 shares of the company’s stock worth $26,000 after buying an additional 527 shares during the last quarter. 54.51% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have commented on the company. Smith Barney Citigroup increased their target price on Pinterest from $35.00 to $65.00 in a report on Friday, October 30th. DA Davidson increased their price target on Pinterest from $19.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Guggenheim began coverage on Pinterest in a research report on Monday, September 28th. They set a “buy” rating and a $48.00 price target on the stock. Credit Suisse Group increased their price target on Pinterest from $36.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Finally, KeyCorp increased their price target on Pinterest from $44.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th. Eleven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $53.33.
NYSE PINS opened at $62.62 on Tuesday. The stock’s 50-day moving average is $51.01 and its two-hundred day moving average is $33.21. The firm has a market cap of $38.70 billion, a P/E ratio of -88.20 and a beta of 1.72. Pinterest, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $68.93.
Pinterest (NYSE:PINS) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.26. Pinterest had a negative return on equity of 20.50% and a negative net margin of 32.88%. On average, analysts forecast that Pinterest, Inc. will post -0.53 earnings per share for the current fiscal year.
In related news, CFO Todd R. Morgenfeld sold 35,963 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $34.20, for a total value of $1,229,934.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Tseli Lily Yang sold 1,440 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $34.20, for a total transaction of $49,248.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,301,366 shares of company stock valued at $183,541,953 in the last quarter.
Pinterest Company Profile
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, home and style ideas, travel destinations, and others. It shows them visual recommendations based on people personal taste and interests.
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