Pinterest, Inc. $PINS Stock Position Increased by Centaurus Financial Inc.

Centaurus Financial Inc. raised its position in shares of Pinterest, Inc. (NYSE:PINS) by 100.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,191 shares of the company’s stock after purchasing an additional 40,163 shares during the period. Centaurus Financial Inc.’s holdings in Pinterest were worth $2,580,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PINS. Envestnet Asset Management Inc. boosted its position in Pinterest by 30.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,036,157 shares of the company’s stock worth $33,333,000 after acquiring an additional 241,527 shares during the period. Peak Retirement Planning Inc. acquired a new position in shares of Pinterest during the third quarter valued at $1,850,000. Allspring Global Investments Holdings LLC raised its stake in shares of Pinterest by 15.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 835,179 shares of the company’s stock valued at $26,600,000 after purchasing an additional 110,089 shares in the last quarter. Renaissance Group LLC raised its stake in shares of Pinterest by 4.5% during the second quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock valued at $36,548,000 after purchasing an additional 43,541 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its holdings in Pinterest by 50,133.2% in the third quarter. Cullen Frost Bankers Inc. now owns 255,687 shares of the company’s stock worth $8,225,000 after purchasing an additional 255,178 shares during the period. Institutional investors own 88.81% of the company’s stock.

Insider Activity at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction 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 transaction, the chief financial officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Malik Ducard sold 2,293 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $22.06, for a total value of $50,583.58. Following the sale, the insider owned 695,187 shares of the company’s stock, valued at $15,335,825.22. This trade represents a 0.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 34,457 shares of company stock valued at $876,925. Company insiders own 7.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PINS shares. Loop Capital lowered shares of Pinterest from a “buy” rating to a “hold” rating and decreased their target price for the company from $45.00 to $18.00 in a research report on Friday, February 13th. Zacks Research raised shares of Pinterest from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Citigroup cut shares of Pinterest from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $38.00 to $19.00 in a report on Friday, February 13th. Piper Sandler reiterated a “neutral” rating and set a $21.00 price objective (down from $33.00) on shares of Pinterest in a research note on Friday, February 13th. Finally, Mizuho set a $35.00 target price on Pinterest in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nineteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.87.

Pinterest Trading Up 1.2%

Shares of Pinterest stock opened at $18.78 on Thursday. Pinterest, Inc. has a 52 week low of $13.84 and a 52 week high of $39.93. The stock has a market cap of $12.49 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 1.23 and a beta of 0.93. The company’s 50-day moving average price is $20.83 and its two-hundred day moving average price is $26.93.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.01). The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Pinterest had a net margin of 9.87% and a return on equity of 7.95%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $0.56 EPS. On average, equities analysts predict 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.