SG Americas Securities LLC Raises Stock Position in Pinterest, Inc. $PINS

SG Americas Securities LLC lifted its position in shares of Pinterest, Inc. (NYSE:PINS) by 302.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,193 shares of the company’s stock after acquiring an additional 100,063 shares during the quarter. SG Americas Securities LLC’s holdings in Pinterest were worth $4,285,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Snowden Capital Advisors LLC grew its holdings in Pinterest by 4.4% in the second quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock valued at $253,000 after purchasing an additional 296 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of Pinterest by 10.1% in the 2nd quarter. Penserra Capital Management LLC now owns 3,259 shares of the company’s stock worth $115,000 after buying an additional 300 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in Pinterest by 3.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock valued at $340,000 after acquiring an additional 358 shares in the last quarter. Baltimore Washington Financial Advisors Inc. increased its holdings in Pinterest by 3.6% during the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock valued at $369,000 after acquiring an additional 359 shares in the last quarter. Finally, Dynamic Wealth Strategies LLC raised its position in Pinterest by 5.8% during the second quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock worth $237,000 after acquiring an additional 361 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PINS has been the topic of several research reports. Bank of America dropped their price objective on shares of Pinterest from $44.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Barclays dropped their price target on Pinterest from $40.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Evercore ISI reduced their price objective on Pinterest from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Royal Bank Of Canada decreased their price objective on Pinterest from $45.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Finally, Mizuho started coverage on Pinterest in a report on Monday, September 29th. They issued an “outperform” rating and a $50.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.72.

Pinterest Price Performance

Pinterest stock opened at $27.16 on Monday. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90. The company has a market capitalization of $18.34 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 1.24 and a beta of 0.91. The firm’s fifty day moving average price is $26.61 and its 200 day moving average price is $32.27.

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

Insider Buying and Selling at Pinterest

In other Pinterest news, insider Malik Ducard sold 2,293 shares of Pinterest stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $26.18, for a total transaction of $60,030.74. Following the sale, the insider directly owned 697,480 shares in the company, valued at $18,260,026.40. The trade was a 0.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the transaction, the insider directly owned 301,214 shares in the company, valued at approximately $8,099,644.46. The trade was a 19.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 105,161 shares of company stock worth $2,796,466 in the last 90 days. 7.06% of the stock is owned by corporate insiders.

Pinterest Profile

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.