PNC Financial Services Group Inc. increased its stake in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 17.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,451 shares of the company’s stock after purchasing an additional 2,285 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Pinterest were worth $572,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in Pinterest in the 4th quarter valued at about $27,000. Rakuten Securities Inc. purchased a new stake in Pinterest in the 4th quarter valued at about $30,000. Washington Trust Advisors Inc. grew its holdings in Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after buying an additional 326 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Pinterest in the 4th quarter valued at about $43,000. Finally, Blue Trust Inc. grew its holdings in Pinterest by 87.7% in the 4th quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock valued at $44,000 after buying an additional 557 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have commented on PINS. KeyCorp lowered their price target on Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. BMO Capital Markets lifted their price target on Pinterest from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Susquehanna lifted their price objective on Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a research note on Friday, February 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $52.00 price objective (up from $50.00) on shares of Pinterest in a research note on Thursday, May 23rd. Finally, Royal Bank of Canada lifted their price objective on Pinterest from $48.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.34.
Check Out Our Latest Stock Report on PINS
Pinterest Stock Up 0.3 %
Shares of PINS opened at $41.49 on Friday. The business’s 50 day moving average is $37.52 and its two-hundred day moving average is $36.42. Pinterest, Inc. has a 52-week low of $23.35 and a 52-week high of $43.12. The firm has a market cap of $28.34 billion, a price-to-earnings ratio of 197.58, a PEG ratio of 4.13 and a beta of 0.99.
Pinterest (NYSE:PINS – Get Free Report) last announced its earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The company had revenue of $739.98 million for the quarter, compared to analyst estimates of $699.96 million. On average, equities analysts expect that Pinterest, Inc. will post 0.43 earnings per share for the current fiscal year.
Insider Activity
In other news, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the sale, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the sale, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $35.08, for a total value of $701,600.00. Following the completion of the sale, the director now owns 34,215 shares of the company’s stock, valued at $1,200,262.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,622 shares of company stock worth $4,737,421. 7.11% of the stock is currently owned by insiders.
Pinterest Company Profile
(Free Report)
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.
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