Donoghue Forlines LLC Acquires New Position in Pinterest, Inc. $PINS

Donoghue Forlines LLC acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 61,534 shares of the company’s stock, valued at approximately $1,980,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PINS. Revolve Wealth Partners LLC acquired a new stake in shares of Pinterest during the 4th quarter worth approximately $252,000. Integrated Wealth Concepts LLC increased its position in Pinterest by 5.9% in the first quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company’s stock worth $339,000 after buying an additional 607 shares during the period. Empowered Funds LLC lifted its stake in Pinterest by 45.6% in the first quarter. Empowered Funds LLC now owns 15,168 shares of the company’s stock valued at $470,000 after buying an additional 4,748 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Pinterest by 138.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,586 shares of the company’s stock valued at $57,000 after acquiring an additional 922 shares during the period. Finally, Sivia Capital Partners LLC grew its position in shares of Pinterest by 39.5% during the second quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company’s stock worth $335,000 after acquiring an additional 2,649 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 74,047 shares of Pinterest 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 transaction, the insider owned 301,214 shares of the company’s stock, valued at $8,099,644.46. The trade was a 19.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $590,151.06. Following the sale, the chief financial officer directly owned 540,358 shares of the company’s stock, valued at approximately $13,973,657.88. This represents a 4.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 105,161 shares of company stock worth $2,796,466. 7.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Roth Capital cut their price objective on shares of Pinterest from $39.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Wall Street Zen cut Pinterest from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Wells Fargo & Company reduced their price objective on Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Citigroup restated a “buy” rating on shares of Pinterest in a research report on Wednesday, November 5th. Finally, BMO Capital Markets reduced their price target on Pinterest from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Pinterest has an average rating of “Moderate Buy” and a consensus price target of $38.93.

Pinterest Price Performance

PINS opened at $25.96 on Friday. The business has a 50 day moving average price of $26.38 and a two-hundred day moving average price of $31.99. The company has a market capitalization of $17.54 billion, a price-to-earnings ratio of 9.01, a price-to-earnings-growth ratio of 1.23 and a beta of 0.91. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.04). The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share. Equities analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Pinterest Company 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.