Pinebridge Investments LLC bought a new position in Pinterest, Inc. (NYSE:PINS – Free Report) in the 4th quarter, Holdings Channel.com reports. The fund bought 63,791 shares of the company’s stock, valued at approximately $1,652,000.
Other large investors also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC bought a new stake in Pinterest in the fourth quarter worth approximately $26,000. Atlantic Union Bankshares Corp grew its position in Pinterest by 3,839.1% in the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after acquiring an additional 883 shares in the last quarter. Addison Advisors LLC grew its position in Pinterest by 727.3% in the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after acquiring an additional 1,200 shares in the last quarter. Garner Asset Management Corp bought a new stake in Pinterest in the fourth quarter worth approximately $36,000. Finally, Fifth Third Bancorp lifted its stake in shares of Pinterest by 2,409.1% in the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock worth $44,000 after buying an additional 1,325 shares during the last quarter. 88.81% of the stock is owned by institutional investors.
Pinterest Trading Up 2.4%
Shares of Pinterest stock opened at $21.94 on Tuesday. The firm has a market capitalization of $12.29 billion, a PE ratio of 45.71, a price-to-earnings-growth ratio of 1.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. The company’s fifty day moving average price is $19.72 and its two-hundred day moving average price is $21.71. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93.
Insider Buying and Selling at Pinterest
In other Pinterest news, insider Wanjiku Juanita Walcott sold 27,337 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $20.46, for a total value of $559,315.02. Following the sale, the insider owned 724,673 shares of the company’s stock, valued at $14,826,809.58. The trade was a 3.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gokul Rajaram sold 2,100 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total transaction of $42,000.00. Following the completion of the sale, the director directly owned 27,450 shares in the company, valued at $549,000. This trade represents a 7.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 77,362 shares of company stock valued at $1,583,253 in the last 90 days. 8.09% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on PINS shares. Stifel Nicolaus boosted their price objective on shares of Pinterest from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Sanford C. Bernstein restated an “outperform” rating and issued a $20.00 price objective on shares of Pinterest in a research note on Friday, February 13th. Barclays raised their price target on Pinterest from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Bank of America reaffirmed a “neutral” rating and issued a $19.00 price target (down from $39.00) on shares of Pinterest in a research report on Friday, February 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $26.00 price target (up from $21.00) on shares of Pinterest in a research report on Tuesday, May 5th. Sixteen analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $27.40.
Check Out Our Latest Report on Pinterest
Pinterest Profile
Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.
The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.
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