PNC Financial Services Group Inc. increased its position in Pinterest, Inc. (NYSE:PINS – Free Report) by 17.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PINS. Envestnet Portfolio Solutions Inc. acquired a new stake in Pinterest in the third quarter worth about $407,000. Envestnet Asset Management Inc. grew its position in shares of Pinterest by 69.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 358,003 shares of the company’s stock worth $9,677,000 after buying an additional 146,622 shares during the period. LPL Financial LLC grew its position in shares of Pinterest by 22.0% during the 3rd quarter. LPL Financial LLC now owns 348,803 shares of the company’s stock worth $9,428,000 after buying an additional 63,012 shares during the period. Mariner LLC grew its position in shares of Pinterest by 13.4% during the 3rd quarter. Mariner LLC now owns 73,855 shares of the company’s stock worth $1,996,000 after buying an additional 8,707 shares during the period. Finally, Northern Trust Corp grew its position in shares of Pinterest by 2.3% during the 3rd quarter. Northern Trust Corp now owns 4,165,324 shares of the company’s stock worth $112,589,000 after buying an additional 92,522 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.
Pinterest Stock Down 1.3 %
Shares of Pinterest stock opened at $44.40 on Thursday. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19. The stock has a market cap of $30.33 billion, a P/E ratio of 211.43, a P/E/G ratio of 4.41 and a beta of 0.97. The business’s 50 day moving average is $40.77 and its 200-day moving average is $37.79.
Pinterest (NYSE:PINS – Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. The business had revenue of $739.98 million for the quarter, compared to analyst estimates of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. On average, sell-side analysts expect that Pinterest, Inc. will post 0.44 EPS for the current year.
Insider Buying and Selling
In related news, CAO Andrea Acosta sold 2,564 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the transaction, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $35.08, for a total value of $701,600.00. Following the transaction, the director now directly owns 34,215 shares of the company’s stock, valued at approximately $1,200,262.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Andrea Acosta sold 2,564 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the transaction, the chief accounting officer now directly owns 186,906 shares in the company, valued at $8,410,770. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,904 shares of company stock valued at $1,613,557. 7.11% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
PINS has been the subject of several analyst reports. BMO Capital Markets boosted their target price on Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Roth Mkm lifted their price objective on Pinterest from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Citigroup lifted their price objective on Pinterest from $48.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price objective on Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. 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 report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.37.
View Our Latest Report on PINS
About Pinterest
(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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