Oppenheimer & Co. Inc. reduced its position in shares of Pinterest, Inc. (NYSE:PINS – Get Rating) by 6.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,098 shares of the company’s stock after selling 4,623 shares during the period. Oppenheimer & Co. Inc.’s holdings in Pinterest were worth $1,541,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cohanzick Management LLC purchased a new position in shares of Pinterest during the first quarter worth about $25,000. Manchester Capital Management LLC raised its holdings in Pinterest by 2,668.9% in the 3rd quarter. Manchester Capital Management LLC now owns 1,246 shares of the company’s stock valued at $29,000 after acquiring an additional 1,201 shares during the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of Pinterest during the 3rd quarter valued at $38,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Pinterest during the 2nd quarter valued at $42,000. Finally, Stonebridge Capital Advisors LLC grew its stake in shares of Pinterest by 5,138.9% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,886 shares of the company’s stock valued at $46,000 after buying an additional 1,850 shares during the period. 71.95% of the stock is currently owned by hedge funds and other institutional investors.
Pinterest Stock Performance
Shares of NYSE PINS opened at $24.43 on Tuesday. The firm has a 50 day moving average price of $25.45 and a 200 day moving average price of $24.17. Pinterest, Inc. has a 52-week low of $16.14 and a 52-week high of $29.17.
Pinterest (NYSE:PINS – Get Rating) last issued its quarterly earnings data on Monday, February 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $877.21 million during the quarter, compared to analysts’ expectations of $886.78 million. Pinterest had a negative net margin of 3.43% and a negative return on equity of 2.25%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 earnings per share. On average, sell-side analysts forecast that Pinterest, Inc. will post -0.03 earnings per share for the current fiscal year.
Insider Activity at Pinterest
In related news, CFO Todd R. Morgenfeld sold 55,241 shares of the business’s stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $23.04, for a total transaction of $1,272,752.64. Following the completion of the transaction, the chief financial officer now owns 641,025 shares in the company, valued at $14,769,216. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Pinterest news, Director Evan Sharp sold 54,884 shares of Pinterest stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $26.30, for a total value of $1,443,449.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Todd R. Morgenfeld sold 55,241 shares of Pinterest stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $23.04, for a total transaction of $1,272,752.64. Following the completion of the transaction, the chief financial officer now directly owns 641,025 shares in the company, valued at approximately $14,769,216. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,010,523 shares of company stock worth $49,557,190. 7.58% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Guggenheim upped their price target on shares of Pinterest to $26.00 in a research report on Tuesday, November 1st. JPMorgan Chase & Co. decreased their target price on shares of Pinterest from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Tuesday, February 7th. Royal Bank of Canada upped their target price on shares of Pinterest from $23.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, October 28th. KeyCorp increased their price objective on shares of Pinterest from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, February 7th. Finally, Piper Sandler raised their target price on shares of Pinterest from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, February 7th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.00.
About Pinterest
Pinterest, Inc engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. The company was founded by Benjamin Silbermann, Paul C. Sciarra, and Evan Sharp in October 2008 and is headquartered in San Francisco, CA.