Xponance Inc. increased its stake in shares of Pinterest, Inc. (NYSE:PINS – Get Rating) by 37.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,391 shares of the company’s stock after purchasing an additional 8,819 shares during the quarter. Xponance Inc.’s holdings in Pinterest were worth $786,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in the company. Cohanzick Management LLC purchased a new stake 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 position in shares of Pinterest during the 3rd quarter worth $38,000. Stonebridge Capital Advisors LLC boosted its holdings in shares of Pinterest by 5,138.9% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,886 shares of the company’s stock worth $46,000 after purchasing an additional 1,850 shares during the last quarter. Finally, Activest Wealth Management grew its position in shares of Pinterest by 1,994.8% in the third quarter. Activest Wealth Management now owns 2,032 shares of the company’s stock valued at $47,000 after purchasing an additional 1,935 shares during the period. Institutional investors and hedge funds own 71.95% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on PINS. Morgan Stanley raised their price target on Pinterest from $19.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 7th. Piper Sandler upped their price target on shares of Pinterest from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 7th. Royal Bank of Canada lifted their price target on shares of Pinterest from $26.00 to $30.00 and gave the company a “sector perform” rating in a report on Monday, April 3rd. Raymond James initiated coverage on Pinterest in a research report on Wednesday. They issued an “outperform” rating and a $33.00 target price on the stock. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $26.00 price target on shares of Pinterest in a research report on Wednesday, March 29th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.73.
Insider Activity at Pinterest
In other Pinterest news, CFO Todd R. Morgenfeld sold 60,537 shares of the firm’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $28.32, for a total transaction of $1,714,407.84. Following the completion of the transaction, the chief financial officer now directly owns 512,820 shares of the company’s stock, valued at approximately $14,523,062.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Pinterest news, CFO Todd R. Morgenfeld sold 60,537 shares of the company’s stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $28.32, for a total transaction of $1,714,407.84. Following the sale, the chief financial officer now owns 512,820 shares in the company, valued at $14,523,062.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Benjamin Silbermann sold 150,000 shares of the stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $26.50, for a total value of $3,975,000.00. The disclosure for this sale can be found here. Insiders have sold 296,625 shares of company stock valued at $7,970,038 over the last ninety days. Corporate insiders own 7.58% of the company’s stock.
Pinterest Price Performance
Shares of Pinterest stock opened at $28.25 on Friday. Pinterest, Inc. has a 1-year low of $16.14 and a 1-year high of $29.27. The company has a market capitalization of $19.32 billion, a PE ratio of -188.33 and a beta of 1.00. The business has a 50-day moving average of $26.14 and a 200-day moving average of $24.89.
Pinterest (NYSE:PINS – Get Rating) last posted its quarterly earnings data on Monday, February 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $877.21 million for the quarter, compared to the consensus estimate of $886.78 million. Pinterest had a negative return on equity of 2.25% and a negative net margin of 3.43%. Pinterest’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 EPS. On average, equities analysts expect that Pinterest, Inc. will post -0.04 earnings per share for the current fiscal year.
Pinterest Company Profile
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.