8,069 Shares in Pinterest, Inc. $PINS Bought by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. purchased 8,069 shares of Pinterest, Inc. valued at approximately $289,000 during the second quarter, indicating growing institutional interest in the company.
• Several large investors significantly increased their stakes in Pinterest, with Envestnet Portfolio Solutions Inc. boosting its holdings by 56.5%, revealing a confidence in the company's future performance.
• Pinterest's market capitalization stands at $22.97 billion, with analysts issuing mixed ratings; most notably, a consensus rating of "Moderate Buy" with a price target around $42.67.

Atria Wealth Solutions Inc. bought a new position in Pinterest, Inc. (NYSE:PINS - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 8,069 shares of the company's stock, valued at approximately $289,000.

A number of other large investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its holdings in Pinterest by 56.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 18,507 shares of the company's stock worth $664,000 after acquiring an additional 6,682 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Pinterest by 52.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,565 shares of the company's stock valued at $415,000 after purchasing an additional 3,997 shares in the last quarter. MGO One Seven LLC purchased a new stake in Pinterest in the second quarter worth about $226,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Pinterest by 14.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 87,849 shares of the company's stock valued at $3,150,000 after purchasing an additional 11,325 shares in the last quarter. Finally, Aberdeen Group plc increased its stake in shares of Pinterest by 5.9% during the second quarter. Aberdeen Group plc now owns 285,736 shares of the company's stock valued at $10,246,000 after purchasing an additional 15,844 shares in the last quarter. Institutional investors own 88.81% of the company's stock.

Insider Activity at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total value of $3,558,613.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $35.00, for a total transaction of $40,250.00. Following the completion of the sale, the director directly owned 30,600 shares of the company's stock, valued at $1,071,000. The trade was a 3.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 640,236 shares of company stock valued at $22,878,326 in the last quarter. Corporate insiders own 7.11% of the company's stock.

Pinterest Trading Up 2.7%

Shares of NYSE:PINS opened at $33.79 on Wednesday. The company has a market capitalization of $22.97 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.38 and a beta of 0.81. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90. The firm's 50-day moving average is $34.65 and its 200 day moving average is $33.24.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on PINS shares. Wall Street Zen downgraded shares of Pinterest from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. Citigroup reissued a "buy" rating and set a $50.00 price target (up previously from $44.00) on shares of Pinterest in a research report on Friday, August 8th. Bank of America lifted their target price on shares of Pinterest from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Barclays lifted their price target on shares of Pinterest from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Finally, KeyCorp lifted their price target on shares of Pinterest from $40.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Pinterest presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.67.

About Pinterest

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.

Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.