D.A. Davidson & CO. Acquires New Position in Pinterest, Inc. $PINS

D.A. Davidson & CO. acquired a new stake in shares of Pinterest, Inc. (NYSE:PINS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 31,835 shares of the company’s stock, valued at approximately $1,142,000.

A number of other large investors have also bought and sold shares of the stock. Legacy Wealth Asset Management LLC purchased a new position in Pinterest in the 2nd quarter worth approximately $328,000. Whittier Trust Co. increased its stake in Pinterest by 22.3% in the 2nd quarter. Whittier Trust Co. now owns 2,088 shares of the company’s stock worth $75,000 after purchasing an additional 381 shares during the period. Probity Advisors Inc. increased its stake in Pinterest by 6.1% in the 2nd quarter. Probity Advisors Inc. now owns 13,631 shares of the company’s stock worth $489,000 after purchasing an additional 779 shares during the period. Aurora Investment Counsel purchased a new position in Pinterest in the 2nd quarter worth approximately $1,934,000. Finally, Stephens Inc. AR increased its stake in Pinterest by 16.4% in the 2nd quarter. Stephens Inc. AR now owns 64,732 shares of the company’s stock worth $2,321,000 after purchasing an additional 9,123 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on PINS. Oppenheimer reaffirmed an “outperform” rating on shares of Pinterest in a research note on Friday, August 8th. Wall Street Zen lowered Pinterest from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Wedbush lifted their price objective on Pinterest from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. UBS Group lifted their price objective on Pinterest from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Stifel Nicolaus lifted their price objective on Pinterest from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.67.

Pinterest Price Performance

PINS stock opened at $35.28 on Tuesday. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The business has a fifty day moving average price of $34.49 and a 200-day moving average price of $33.51. The stock has a market capitalization of $23.99 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.48 and a beta of 0.81.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a return on equity of 8.44% and a net margin of 49.31%.The firm had revenue of $665.93 million during the quarter. As a group, analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $35.00, for a total value of $40,250.00. Following the completion of the transaction, the director owned 30,600 shares in the company, valued at $1,071,000. The trade was a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total value of $3,558,613.38. The disclosure for this sale can be found here. Insiders have sold 640,236 shares of company stock worth $22,878,326 over the last three months. Company insiders own 7.11% of the company’s stock.

About Pinterest

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.