Koshinski Asset Management Inc. Takes Position in Pinterest, Inc. $PINS

Koshinski Asset Management Inc. purchased a new stake in Pinterest, Inc. (NYSE:PINS) in the second quarter, HoldingsChannel reports. The firm purchased 6,296 shares of the company’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PINS. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Pinterest in the 1st quarter valued at about $25,000. West Branch Capital LLC bought a new stake in Pinterest during the 2nd quarter worth approximately $36,000. Golden State Wealth Management LLC increased its stake in Pinterest by 665.4% during the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company’s stock worth $38,000 after purchasing an additional 1,058 shares in the last quarter. Mather Group LLC. increased its stake in Pinterest by 133.5% during the 1st quarter. Mather Group LLC. now owns 1,310 shares of the company’s stock worth $41,000 after purchasing an additional 749 shares in the last quarter. Finally, LRI Investments LLC increased its stake in Pinterest by 97.7% during the 1st quarter. LRI Investments LLC now owns 1,374 shares of the company’s stock worth $43,000 after purchasing an additional 679 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Insider Activity

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total transaction of $3,558,613.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total value of $795,311.85. Following the sale, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at $10,887,906.70. This represents a 6.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 640,236 shares of company stock valued at $22,878,326 over the last three months. Corporate insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Benchmark increased their target price on Pinterest from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Piper Sandler set a $40.00 target price on Pinterest in a research note on Friday, August 8th. Susquehanna reissued a “positive” rating and set a $42.00 target price on shares of Pinterest in a research note on Friday, August 8th. KeyCorp increased their target price on Pinterest from $40.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Finally, Wall Street Zen cut Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.67.

Pinterest Trading Up 2.7%

NYSE:PINS opened at $33.79 on Wednesday. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The firm has a fifty day simple moving average of $34.65 and a 200 day simple moving average of $33.24. The stock has a market capitalization of $22.97 billion, a PE ratio of 12.11, a P/E/G ratio of 1.38 and a beta of 0.81.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The business had revenue of $665.93 million during the quarter. On average, equities analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Pinterest Company Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.