Pinterest, Inc. $PINS Shares Bought by Cwm LLC

Cwm LLC grew its position in Pinterest, Inc. (NYSE:PINS) by 107.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 318,577 shares of the company’s stock after purchasing an additional 165,105 shares during the quarter. Cwm LLC’s holdings in Pinterest were worth $10,249,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brookstone Capital Management acquired a new stake in Pinterest in the third quarter valued at $609,000. Swedbank AB increased its holdings in shares of Pinterest by 13.6% in the 3rd quarter. Swedbank AB now owns 8,441,986 shares of the company’s stock valued at $271,579,000 after acquiring an additional 1,011,101 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of Pinterest by 14.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 50,363 shares of the company’s stock worth $1,620,000 after acquiring an additional 6,174 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Pinterest by 0.9% during the third quarter. IFM Investors Pty Ltd now owns 118,763 shares of the company’s stock worth $3,990,000 after purchasing an additional 1,106 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Pinterest by 13.7% in the third quarter. Farther Finance Advisors LLC now owns 37,819 shares of the company’s stock valued at $1,217,000 after purchasing an additional 4,564 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Wanjiku Juanita Walcott sold 74,047 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the completion of the sale, the insider owned 301,214 shares in the company, valued at $8,099,644.46. This represents a 19.73% 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. Insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

PINS has been the topic of a number of research analyst reports. UBS Group cut their price objective on shares of Pinterest from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Wells Fargo & Company dropped their target price on shares of Pinterest from $42.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Barclays reduced their price target on shares of Pinterest from $40.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. The Goldman Sachs Group dropped their price objective on Pinterest from $43.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, Sanford C. Bernstein cut their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.97.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $26.14 on Monday. Pinterest, Inc. has a one year low of $23.68 and a one year high of $40.90. The stock has a market capitalization of $17.66 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 1.66 and a beta of 0.89. The company has a 50-day simple moving average of $27.98 and a 200-day simple moving average of $32.84.

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

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.