Hennion & Walsh Asset Management Inc. acquired a new position in Pinterest, Inc. (NYSE:PINS – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,894 shares of the company’s stock, valued at approximately $204,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PINS. GAMMA Investing LLC purchased a new position in Pinterest in the fourth quarter valued at about $27,000. Rakuten Securities Inc. purchased a new position in Pinterest in the fourth quarter valued at approximately $30,000. Washington Trust Advisors Inc. grew its holdings in Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after purchasing an additional 326 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Pinterest in the fourth quarter worth $43,000. Finally, Blue Trust Inc. raised its stake in shares of Pinterest by 87.7% in the fourth 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.
Insiders Place Their Bets
In other news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the transaction, the director now owns 31,646 shares in the company, valued at $1,055,077.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the transaction, the director now directly owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 2,564 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the sale, 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. Insiders have sold 52,184 shares of company stock valued at $2,255,783 in the last ninety days. Company insiders own 7.11% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. BMO Capital Markets lifted their price objective on Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. upped their price target on shares of Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Stifel Nicolaus lifted their price objective on shares of Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a report on Wednesday, May 1st. Finally, Loop Capital boosted their price objective on Pinterest from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Eight research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.37.
View Our Latest Stock Report on PINS
Pinterest Stock Performance
Shares of Pinterest stock opened at $43.51 on Friday. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19. The company has a fifty day moving average of $42.25 and a 200-day moving average of $38.11. The stock has a market capitalization of $29.72 billion, a price-to-earnings ratio of 207.19, a price-to-earnings-growth ratio of 4.23 and a beta of 0.97.
Pinterest (NYSE:PINS – Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.05. The business had revenue of $739.98 million during the quarter, compared to analyst estimates of $699.96 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. On average, equities research analysts forecast that Pinterest, Inc. will post 0.44 earnings per share for the current fiscal year.
Pinterest 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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