Pinterest, Inc. $PINS Stake Lifted by Allworth Financial LP

Allworth Financial LP lifted its position in shares of Pinterest, Inc. (NYSE:PINS) by 60.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,939 shares of the company’s stock after buying an additional 4,861 shares during the quarter. Allworth Financial LP’s holdings in Pinterest were worth $464,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new position in shares of Pinterest in the fourth quarter worth $252,000. Larson Financial Group LLC increased its position in shares of Pinterest by 1,773.5% during the 1st quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $57,000 after purchasing an additional 1,738 shares during the period. Private Advisor Group LLC raised its stake in shares of Pinterest by 42.9% in the 1st quarter. Private Advisor Group LLC now owns 92,204 shares of the company’s stock worth $2,858,000 after buying an additional 27,661 shares in the last quarter. Formidable Asset Management LLC acquired a new stake in shares of Pinterest in the first quarter valued at $423,000. Finally, Kestra Private Wealth Services LLC acquired a new stake in shares of Pinterest in the first quarter valued at $300,000. Institutional investors own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PINS shares. Cantor Fitzgerald dropped their price target on shares of Pinterest from $40.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings initiated coverage on shares of Pinterest in a report on Saturday, November 1st. They issued a “hold (c+)” rating on the stock. BMO Capital Markets cut their target price on shares of Pinterest from $41.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Monness Crespi & Hardt lowered Pinterest from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada reduced their target price on Pinterest from $45.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $39.55.

Pinterest Stock Down 0.6%

Shares of PINS stock opened at $26.62 on Monday. The business has a 50-day moving average price of $32.57 and a two-hundred day moving average price of $33.95. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90. The firm has a market cap of $17.98 billion, a P/E ratio of 9.24, a price-to-earnings-growth ratio of 1.57 and a beta of 0.96.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $665.93 million during the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%. As a group, research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total transaction of $795,311.85. Following the transaction, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. This trade represents a 6.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated 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 approximately $1,071,000. This represents a 3.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 714,283 shares of company stock worth $24,869,450 over the last 90 days. 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.