Bank of New York Mellon Corp Grows Position in Pinterest, Inc. $PINS

Bank of New York Mellon Corp lifted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,014,388 shares of the company’s stock after purchasing an additional 401,619 shares during the quarter. Bank of New York Mellon Corp owned 0.60% of Pinterest worth $73,624,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Illinois Municipal Retirement Fund raised its position in shares of Pinterest by 12.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 390,551 shares of the company’s stock valued at $7,163,000 after buying an additional 41,755 shares in the last quarter. Sigma Planning Corp purchased a new position in Pinterest in the first quarter worth $249,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Pinterest by 46.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 37,415 shares of the company’s stock valued at $686,000 after acquiring an additional 11,894 shares during the last quarter. Bleakley Financial Group LLC purchased a new position in shares of Pinterest in the 1st quarter worth about $204,000. Finally, Principal Financial Group Inc. lifted its position in Pinterest by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,312,613 shares of the company’s stock worth $24,073,000 after buying an additional 33,200 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $28.00 price target on shares of Pinterest in a research note on Tuesday, May 5th. Royal Bank Of Canada upped their price target on shares of Pinterest from $17.00 to $23.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 5th. Morgan Stanley raised their price objective on Pinterest from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Rothschild & Co Redburn set a $23.00 price objective on Pinterest and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Rosenblatt Securities raised their price target on Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Seventeen analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Pinterest has a consensus rating of “Hold” and an average price target of $27.69.

Pinterest Stock Performance

Shares of PINS stock opened at $22.61 on Thursday. The firm has a market capitalization of $12.66 billion, a price-to-earnings ratio of 47.10, a PEG ratio of 1.30 and a beta of 0.89. The stock has a fifty day moving average of $21.08 and a 200 day moving average of $20.70. Pinterest, Inc. has a 52 week low of $13.84 and a 52 week high of $39.93. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $965.84 million. During the same period in the prior year, the business earned $0.23 EPS. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, research analysts expect that Pinterest, Inc. will post 0.65 earnings per share for the current year.

Insider Activity at Pinterest

In related news, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $22.63, for a total value of $1,060,781.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 14,208 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $19.65, for a total value of $279,187.20. Following the completion of the transaction, the insider owned 691,840 shares of the company’s stock, valued at approximately $13,594,656. This trade represents a 2.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 323,845 shares of company stock worth $6,836,065. Insiders own 8.09% of the company’s stock.

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.