Pinterest, Inc. $PINS Shares Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. grew its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 50,133.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 255,687 shares of the company’s stock after purchasing an additional 255,178 shares during the period. Cullen Frost Bankers Inc.’s holdings in Pinterest were worth $8,225,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings in Pinterest by 282.7% during the second quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after buying an additional 506 shares in the last quarter. N.E.W. Advisory Services LLC lifted its position in shares of Pinterest by 505.7% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock valued at $27,000 after acquiring an additional 713 shares during the last quarter. Wellington Shields Capital Management LLC bought a new stake in shares of Pinterest during the 2nd quarter worth $40,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Pinterest in the 2nd quarter worth $45,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Pinterest by 46.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company’s stock worth $42,000 after purchasing an additional 419 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PINS. UBS Group decreased their price target on Pinterest from $48.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. JPMorgan Chase & Co. decreased their target price on shares of Pinterest from $44.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. BMO Capital Markets dropped their target price on shares of Pinterest from $41.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Piper Sandler restated a “neutral” rating and issued a $33.00 price target (down previously from $35.00) on shares of Pinterest in a research report on Wednesday, November 5th. Finally, Morgan Stanley raised their price objective on shares of Pinterest from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and an average target price of $38.64.

Pinterest Stock Up 1.0%

Shares of NYSE:PINS opened at $25.92 on Monday. The firm has a fifty day moving average of $26.24 and a two-hundred day moving average of $31.60. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90. The firm has a market capitalization of $17.51 billion, a P/E ratio of 9.00, a price-to-earnings-growth ratio of 1.23 and a beta of 0.91.

Pinterest (NYSE:PINS) last announced its quarterly earnings data 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 analysts’ expectations of $1.05 billion. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.Pinterest’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.40 earnings per share. Equities research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total value of $590,151.06. Following the completion of the sale, the chief financial officer owned 540,358 shares of the company’s stock, valued at approximately $13,973,657.88. The trade was a 4.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Malik Ducard sold 2,293 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $26.18, for a total transaction of $60,030.74. Following the transaction, the insider directly owned 697,480 shares in the company, valued at approximately $18,260,026.40. The trade was a 0.33% decrease in their position. 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 three months. 7.11% of the stock is owned by insiders.

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.