Pinterest, Inc. $PINS Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its stake in Pinterest, Inc. (NYSE:PINS) by 97.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,156 shares of the company’s stock after buying an additional 82,323 shares during the period. Exchange Traded Concepts LLC’s holdings in Pinterest were worth $4,328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. N.E.W. Advisory Services LLC grew its holdings in shares of Pinterest by 505.7% during the third quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock valued at $27,000 after buying an additional 713 shares during the last quarter. Atlantic Union Bankshares Corp raised its stake in Pinterest by 3,839.1% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after acquiring an additional 883 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Pinterest by 46.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company’s stock worth $42,000 after acquiring an additional 419 shares during the last quarter. Fifth Third Bancorp lifted its position in Pinterest by 2,409.1% during the 3rd quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock worth $44,000 after acquiring an additional 1,325 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Pinterest during the 2nd quarter worth about $45,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PINS has been the topic of several research analyst reports. Oppenheimer dropped their price target on Pinterest from $36.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Wells Fargo & Company reduced their price objective on Pinterest from $35.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Morgan Stanley decreased their target price on Pinterest from $35.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. Stifel Nicolaus dropped their target price on Pinterest from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $20.00 price target on shares of Pinterest in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nineteen have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.61.

Pinterest Price Performance

PINS opened at $18.00 on Tuesday. The firm has a fifty day moving average price of $19.49 and a 200 day moving average price of $25.83. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93. The stock has a market cap of $11.97 billion, a P/E ratio of 29.51, a P/E/G ratio of 1.16 and a beta of 0.93.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.33 billion. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 EPS. Equities analysts expect that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Activity at Pinterest

In other news, insider Malik Ducard sold 2,293 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $22.06, for a total transaction of $50,583.58. Following the sale, the insider directly owned 695,187 shares in the company, valued at $15,335,825.22. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 5,636 shares of company stock worth $131,614. 7.11% of the stock is owned by company 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.