Corient Private Wealth LLC Boosts Position in Pinterest, Inc. $PINS

Key Points

• Corient Private Wealth LLC increased its Pinterest stake by 67.8% in the fourth quarter, buying 51,181 additional shares and bringing its total to 126,647 shares worth about $3.28 million.
• Wall Street sentiment on Pinterest remains mixed, with analysts landing on a Hold consensus and an average price target of $27.40; recent updates included raised targets from Wells Fargo and Citi, while Weiss Ratings cut its view to sell.
• Pinterest recently posted better-than-expected quarterly results, reporting EPS of $0.27 on revenue of $1.01 billion, while insider selling has also been notable, including sales by Wanjiku Juanita Walcott and Benjamin Silbermann.

Corient Private Wealth LLC raised its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 67.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 126,647 shares of the company's stock after purchasing an additional 51,181 shares during the period. Corient Private Wealth LLC's holdings in Pinterest were worth $3,280,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PINS. Snowden Capital Advisors LLC raised its stake in shares of Pinterest by 4.4% during the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company's stock worth $253,000 after buying an additional 296 shares during the last quarter. EP Wealth Advisors LLC grew its stake in Pinterest by 3.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company's stock valued at $340,000 after acquiring an additional 358 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in Pinterest by 0.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 95,960 shares of the company's stock valued at $2,484,000 after acquiring an additional 464 shares during the last quarter. Simon Quick Advisors LLC increased its holdings in Pinterest by 5.5% during the 4th quarter. Simon Quick Advisors LLC now owns 10,237 shares of the company's stock valued at $265,000 after acquiring an additional 535 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Pinterest by 2.2% during the 4th quarter. CIBC Asset Management Inc now owns 26,434 shares of the company's stock valued at $684,000 after acquiring an additional 560 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

Wall Street Analyst Weigh In

PINS has been the topic of several recent research reports. Wells Fargo & Company upped their price target on shares of Pinterest from $25.00 to $28.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $24.00 price objective on shares of Pinterest in a research note on Tuesday, May 5th. Citigroup lifted their price objective on Pinterest from $19.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Weiss Ratings lowered Pinterest from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, April 2nd. Finally, TD Cowen reiterated a "buy" rating on shares of Pinterest in a report on Monday, June 22nd. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $27.40.

Insiders Place Their Bets

In other Pinterest news, insider Wanjiku Juanita Walcott sold 14,208 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $19.65, for a total transaction of $279,187.20. Following the transaction, the insider owned 691,840 shares of the company's stock, valued at $13,594,656. This represents a 2.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the firm's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $19.99, for a total value of $937,031.25. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 232,195 shares of company stock valued at $4,811,815. Company insiders own 8.09% of the company's stock.

Pinterest Price Performance

Pinterest stock opened at $20.79 on Friday. The stock has a market capitalization of $11.65 billion, a P/E ratio of 43.31, a P/E/G ratio of 1.19 and a beta of 0.92. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $39.93. 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 firm's 50-day moving average is $20.37 and its two-hundred day moving average is $21.21.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.05. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The company's revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 earnings per share. Equities analysts predict that Pinterest, Inc. will post 0.65 earnings per share for the current year.

About Pinterest

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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