Park Avenue Securities LLC Acquires New Stake in Pinterest, Inc. (NYSE:PINS)

Park Avenue Securities LLC acquired a new stake in Pinterest, Inc. (NYSE:PINS – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,370 shares of the company’s stock, valued at approximately $242,000.

Several other institutional investors have also bought and sold shares of the company. Bank of Nova Scotia raised its holdings in Pinterest by 632.6% during the 2nd quarter. Bank of Nova Scotia now owns 10,229,664 shares of the company’s stock valued at $185,784,000 after acquiring an additional 8,833,290 shares during the period. Renaissance Technologies LLC increased its stake in Pinterest by 262.8% in the first quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company’s stock valued at $283,399,000 after acquiring an additional 8,341,222 shares during the last quarter. Natixis boosted its position in Pinterest by 92.5% during the second quarter. Natixis now owns 9,818,000 shares of the company’s stock valued at $179,645,000 after buying an additional 4,718,191 shares during the period. SRS Investment Management LLC boosted its holdings in shares of Pinterest by 80.1% during the second quarter. SRS Investment Management LLC now owns 7,285,205 shares of the company’s stock worth $132,299,000 after purchasing an additional 3,239,511 shares during the period. Finally, Capital International Investors boosted its holdings in shares of Pinterest by 33.1% during the first quarter. Capital International Investors now owns 11,825,108 shares of the company’s stock worth $291,016,000 after purchasing an additional 2,940,932 shares during the period. Hedge funds and other institutional investors own 71.95% of the company’s stock.

Insider Buying and Selling at Pinterest

In other Pinterest news, Chairman Benjamin Silbermann sold 150,000 shares of Pinterest stock in a transaction on Monday, November 14th. The shares were sold at an average price of $24.50, for a total value of $3,675,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Pinterest news, Chairman Benjamin Silbermann sold 150,000 shares of Pinterest stock in a transaction on Monday, November 14th. The shares were sold at an average price of $24.50, for a total value of $3,675,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey D. Jordan sold 7,500 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $25.23, for a total transaction of $189,225.00. Following the completion of the sale, the director now owns 214,215 shares in the company, valued at $5,404,644.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,596,714 shares of company stock worth $63,584,714. Insiders own 7.58% of the company’s stock.

Pinterest Stock Performance

PINS opened at $26.69 on Tuesday. Pinterest, Inc. has a fifty-two week low of $16.14 and a fifty-two week high of $31.16. The firm’s fifty day moving average is $24.82 and its 200 day moving average is $23.30. The stock has a market cap of $18.10 billion, a price-to-earnings ratio of 381.34 and a beta of 0.97.

Pinterest (NYSE:PINS – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. The company had revenue of $684.55 million for the quarter, compared to the consensus estimate of $664.97 million. Pinterest had a net margin of 2.21% and a return on equity of 3.10%. On average, equities research analysts predict that Pinterest, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on PINS shares. Rosenblatt Securities raised their target price on shares of Pinterest from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 15th. The Goldman Sachs Group raised shares of Pinterest from a “neutral” rating to a “buy” rating and raised their price target for the company from $24.00 to $31.00 in a research report on Wednesday, October 5th. MKM Partners downgraded shares of Pinterest from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a research report on Friday. Guggenheim raised their price target on shares of Pinterest to $26.00 in a research report on Tuesday, November 1st. Finally, Citigroup raised their target price on shares of Pinterest from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, October 31st. Fifteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.88.

Pinterest Company Profile

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Pinterest, Inc operates as a 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; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.