GAMMA Investing LLC Takes Position in Pinterest, Inc. (NYSE:PINS)

GAMMA Investing LLC purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 720 shares of the company’s stock, valued at approximately $27,000.

A number of other institutional investors have also recently added to or reduced their stakes in PINS. Cambridge Investment Research Advisors Inc. boosted its position in Pinterest by 5.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,809 shares of the company’s stock worth $1,157,000 after purchasing an additional 2,247 shares during the period. Raymond James & Associates boosted its position in Pinterest by 28.8% during the 3rd quarter. Raymond James & Associates now owns 488,012 shares of the company’s stock worth $13,191,000 after purchasing an additional 109,223 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Pinterest by 31.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 112,753 shares of the company’s stock worth $3,048,000 after purchasing an additional 27,087 shares during the period. Bank of New York Mellon Corp boosted its position in Pinterest by 1.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,484,116 shares of the company’s stock worth $67,146,000 after purchasing an additional 39,431 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Pinterest by 9.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 109,903 shares of the company’s stock worth $2,971,000 after purchasing an additional 9,689 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PINS. Roth Mkm upped their price target on shares of Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Benchmark restated a “hold” rating on shares of Pinterest in a research note on Wednesday, May 1st. Piper Sandler raised their target price on Pinterest from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. BMO Capital Markets raised their target price on Pinterest from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Finally, Sanford C. Bernstein raised their target price on Pinterest from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.26.

Pinterest Stock Up 2.4 %

Shares of NYSE PINS opened at $41.38 on Tuesday. The firm’s 50-day moving average price is $34.90 and its two-hundred day moving average price is $34.68. Pinterest, Inc. has a 52-week low of $20.88 and a 52-week high of $41.60. The stock has a market capitalization of $28.27 billion, a P/E ratio of 197.06, a P/E/G ratio of 4.02 and a beta of 0.99.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The firm had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. As a group, equities research analysts expect that Pinterest, Inc. will post 0.43 earnings per share for the current year.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,055,077.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the sale, the director now owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest 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 sale, the director now directly owns 34,215 shares in the company, valued at approximately $1,200,262.20. The disclosure for this sale can be found here. Insiders have sold 164,471 shares of company stock valued at $5,773,431 over the last quarter. Insiders own 7.11% of the company’s stock.

Pinterest Profile

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.