Howe & Rusling Inc. Purchases 8,318 Shares of Pinterest, Inc. $PINS

Howe & Rusling Inc. increased its position in Pinterest, Inc. (NYSE:PINS) by 4.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 182,647 shares of the company’s stock after purchasing an additional 8,318 shares during the period. Howe & Rusling Inc.’s holdings in Pinterest were worth $6,550,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PINS. Golden State Wealth Management LLC lifted its position in Pinterest by 282.7% during the second quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after buying an additional 506 shares during the period. West Branch Capital LLC bought a new position in shares of Pinterest in the 2nd quarter worth about $36,000. Wellington Shields Capital Management LLC purchased a new position in Pinterest during the 2nd quarter valued at about $40,000. SVB Wealth LLC purchased a new position in Pinterest during the 1st quarter valued at about $56,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Pinterest by 138.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,586 shares of the company’s stock worth $57,000 after acquiring an additional 922 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

PINS has been the subject of a number of analyst reports. Benchmark decreased their target price on shares of Pinterest from $48.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. BMO Capital Markets cut their price target on Pinterest from $41.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Mizuho initiated coverage on Pinterest in a research report on Monday, September 29th. They set an “outperform” rating and a $50.00 price objective for the company. Sanford C. Bernstein dropped their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Finally, Stifel Nicolaus increased their target price on Pinterest from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.55.

Insider Activity at Pinterest

In other news, CAO Andrea Acosta sold 3,759 shares of Pinterest stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $34.96, for a total value of $131,414.64. Following the completion of the sale, the chief accounting officer directly owned 157,402 shares in the company, valued at $5,502,773.92. The trade was a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total transaction of $3,558,613.38. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 611,050 shares of company stock worth $21,260,379. 7.06% of the stock is owned by insiders.

Pinterest Price Performance

PINS stock opened at $25.45 on Thursday. The stock has a market capitalization of $17.19 billion, a P/E ratio of 8.84, a P/E/G ratio of 1.56 and a beta of 0.96. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The business has a fifty day moving average price of $31.91 and a 200-day moving average price of $33.88.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The company had revenue of $665.93 million for the quarter. As a group, analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Pinterest 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.