22,465 Shares in Pinterest, Inc. $PINS Purchased by Allstate Corp

Allstate Corp bought a new stake in shares of Pinterest, Inc. (NYSE:PINS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,465 shares of the company’s stock, valued at approximately $723,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Snowden Capital Advisors LLC lifted its stake in Pinterest by 4.4% in the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock worth $253,000 after purchasing an additional 296 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of Pinterest by 10.1% in the second quarter. Penserra Capital Management LLC now owns 3,259 shares of the company’s stock valued at $115,000 after purchasing an additional 300 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Pinterest by 3.9% in the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock valued at $340,000 after purchasing an additional 358 shares during the last quarter. Baltimore Washington Financial Advisors Inc. lifted its position in Pinterest by 3.6% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock worth $369,000 after buying an additional 359 shares in the last quarter. Finally, Dynamic Wealth Strategies LLC boosted its stake 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 buying an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Trading Up 2.7%

Pinterest stock opened at $25.66 on Friday. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $40.90. The stock’s fifty day simple moving average is $26.25 and its 200-day simple moving average is $31.73. The firm has a market capitalization of $17.33 billion, a P/E ratio of 8.91, a P/E/G ratio of 1.18 and a beta of 0.91.

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 analysts’ consensus estimates of $0.42 by ($0.04). The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The firm’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 EPS. Sell-side analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Activity

In other news, insider Wanjiku Juanita Walcott sold 74,047 shares of the business’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 value of $1,991,123.83. Following the transaction, the insider owned 301,214 shares of the company’s stock, valued at approximately $8,099,644.46. The trade was a 19.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Malik Ducard sold 2,293 shares of the company’s stock in a transaction 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 transaction, the insider owned 697,480 shares of the company’s stock, valued at approximately $18,260,026.40. The trade was a 0.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 105,161 shares of company stock valued at $2,796,466. 7.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Pinterest from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Wolfe Research set a $33.00 target price on shares of Pinterest and gave the company an “outperform” rating in a report on Monday, January 5th. Wall Street Zen cut shares of Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Roth Mkm cut their price target on shares of Pinterest from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pinterest in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.64.

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.