Whittier Trust Co. Buys 381 Shares of Pinterest, Inc. $PINS

Whittier Trust Co. raised its stake in Pinterest, Inc. (NYSE:PINS) by 22.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,088 shares of the company’s stock after purchasing an additional 381 shares during the quarter. Whittier Trust Co.’s holdings in Pinterest were worth $75,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PINS. Revolve Wealth Partners LLC bought a new position in Pinterest in the fourth quarter valued at approximately $252,000. GAMMA Investing LLC grew its stake in Pinterest by 107.3% in the first quarter. GAMMA Investing LLC now owns 2,216 shares of the company’s stock valued at $69,000 after purchasing an additional 1,147 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Pinterest by 21.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 112,201 shares of the company’s stock valued at $3,478,000 after purchasing an additional 19,552 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Pinterest by 5.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 20,242 shares of the company’s stock valued at $628,000 after purchasing an additional 1,054 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in Pinterest by 11.4% in the first quarter. Oppenheimer & Co. Inc. now owns 10,240 shares of the company’s stock valued at $317,000 after purchasing an additional 1,051 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Guggenheim reiterated a “buy” rating on shares of Pinterest in a research note on Tuesday, September 2nd. KeyCorp lifted 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. Sanford C. Bernstein lifted their target price on Pinterest from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company set a $42.00 target price on Pinterest and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Finally, Benchmark lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.67.

Pinterest Trading Up 1.6%

NYSE:PINS opened at $33.97 on Friday. The stock has a market cap of $23.10 billion, a P/E ratio of 12.18, a PEG ratio of 1.40 and a beta of 0.81. The stock has a 50 day simple moving average of $34.50 and a 200 day simple moving average of $33.36. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90.

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

Insider Buying and Selling

In other news, CAO Andrea Acosta sold 3,759 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $34.96, for a total transaction of $131,414.64. Following the completion of the sale, the chief accounting officer directly owned 157,402 shares in the company, valued at approximately $5,502,773.92. This represents a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $35.00, for a total value of $40,250.00. Following the sale, the director owned 30,600 shares of the company’s stock, valued at approximately $1,071,000. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 640,236 shares of company stock valued at $22,878,326. 7.06% of the stock is owned by insiders.

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.