Wealth Enhancement Advisory Services LLC Grows Holdings in Pinterest, Inc. $PINS

Wealth Enhancement Advisory Services LLC grew its position in Pinterest, Inc. (NYSE:PINS) by 78.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 190,243 shares of the company’s stock after acquiring an additional 83,889 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Pinterest were worth $5,165,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Pinterest by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 60,986,423 shares of the company’s stock valued at $1,961,933,000 after purchasing an additional 3,044,674 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Pinterest by 18.5% in the 3rd quarter. Victory Capital Management Inc. now owns 20,550,242 shares of the company’s stock worth $685,899,000 after purchasing an additional 3,213,241 shares during the period. Ameriprise Financial Inc. raised its holdings in Pinterest by 10.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 19,732,086 shares of the company’s stock worth $634,767,000 after purchasing an additional 1,913,668 shares during the period. State Street Corp boosted its position in Pinterest by 1.6% during the third quarter. State Street Corp now owns 14,079,956 shares of the company’s stock worth $452,952,000 after purchasing an additional 224,909 shares in the last quarter. Finally, Norges Bank purchased a new position in Pinterest during the second quarter worth approximately $477,853,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on PINS. Benchmark cut their price objective on Pinterest from $39.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $20.00 target price (down from $36.00) on shares of Pinterest in a research report on Friday, February 13th. Stifel Nicolaus dropped their price target on shares of Pinterest from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Bank of America reissued a “neutral” rating and issued a $19.00 price target (down from $39.00) on shares of Pinterest in a report on Friday, February 13th. Finally, Wall Street Zen upgraded shares of Pinterest from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nineteen have issued a Hold rating to the stock. According to MarketBeat.com, Pinterest presently has a consensus rating of “Hold” and an average price target of $25.61.

Pinterest Price Performance

Shares of NYSE:PINS opened at $17.77 on Monday. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93. The firm has a market capitalization of $11.82 billion, a PE ratio of 29.14, a P/E/G ratio of 1.16 and a beta of 0.93. The business’s 50 day moving average price is $19.65 and its 200-day moving average price is $25.95.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). Pinterest had a net margin of 9.87% and a return on equity of 7.95%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business posted $0.56 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Activity at Pinterest

In other news, insider Malik Ducard sold 2,293 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $22.06, for a total value of $50,583.58. Following the completion of the sale, the insider directly owned 695,187 shares in the company, valued at $15,335,825.22. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 5,636 shares of company stock valued at $131,614 in the last ninety days. 7.06% of the stock is owned by corporate insiders.

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.