Crossmark Global Holdings Inc. Acquires 66,223 Shares of Pinterest, Inc. $PINS

Key Points

• Crossmark Global Holdings established a new Pinterest position by purchasing 66,223 shares valued at approximately $1.25 million. Institutional investors and hedge funds collectively own 88.81% of Pinterest.
• Analyst sentiment is broadly positive: Pinterest has a consensus “Moderate Buy” rating and an average price target of $27.90, with several firms recently raising ratings or targets.
• Pinterest reported quarterly EPS of $0.43, beating estimates of $0.36, while revenue rose 18.2% year over year to $1.18 billion. Shares recently opened at $22.30.

Crossmark Global Holdings Inc. bought a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 66,223 shares of the company's stock, valued at approximately $1,251,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC increased its stake in Pinterest by 271.1% in the first quarter. Renaissance Technologies LLC now owns 5,988,631 shares of the company's stock valued at $109,831,000 after purchasing an additional 4,375,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Pinterest by 300.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,398,316 shares of the company's stock worth $83,084,000 after buying an additional 3,299,884 shares during the last quarter. Amundi lifted its position in shares of Pinterest by 38.3% during the 1st quarter. Amundi now owns 3,200,829 shares of the company's stock worth $58,703,000 after buying an additional 885,927 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Pinterest by 15.4% in the 1st quarter. Bank of America Corp DE now owns 5,848,116 shares of the company's stock valued at $107,254,000 after buying an additional 779,998 shares in the last quarter. Finally, Boothe Investment Group Inc. acquired a new position in shares of Pinterest in the 1st quarter valued at $11,856,000. Institutional investors and hedge funds own 88.81% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on PINS. Jefferies Financial Group raised shares of Pinterest from a "hold" rating to a "buy" rating in a research report on Monday, August 31st. Evercore lifted their target price on Pinterest from $27.00 to $29.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 5th. Phillip Securities raised Pinterest to a "strong-buy" rating in a report on Monday, October 19th. Rosenblatt Securities upped their target price on Pinterest from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Finally, BMO Capital Markets raised their price target on Pinterest from $30.00 to $34.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.90.

Insider Buying and Selling at Pinterest

In other Pinterest news, CFO Julia Donnelly sold 59,096 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $23.48, for a total transaction of $1,387,574.08. Following the sale, the chief financial officer directly owned 817,409 shares in the company, valued at approximately $19,192,763.32. The trade was a 6.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 93,750 shares of the business's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $21.43, for a total transaction of $2,009,062.50. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 692,877 shares of company stock valued at $14,733,501 in the last quarter. 8.09% of the stock is currently owned by company insiders.

Pinterest Price Performance

Shares of PINS opened at $22.30 on Monday. The firm has a market capitalization of $12.49 billion, a PE ratio of 65.59, a P/E/G ratio of 1.58 and a beta of 0.90. The stock's 50 day moving average is $20.86 and its two-hundred day moving average is $21.12. Pinterest, Inc. has a twelve month low of $13.84 and a twelve month high of $35.42. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.36 by $0.07. Pinterest had a return on equity of 7.49% and a net margin of 5.46%. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same period last year, the firm earned $0.33 EPS. The company's quarterly revenue was up 18.2% compared to the same quarter last year. Research analysts anticipate that Pinterest, Inc. will post 0.53 earnings per share for the current year.

About Pinterest

Pinterest, Inc NYSE: PINS operates a visual discovery platform that helps people find ideas and inspiration for activities such as home improvement, cooking, fashion, travel and event planning. Users can discover, save and organize images and videos—known as Pins—on personalized boards and explore recommendations based on their interests.

The company also provides tools for businesses and creators to showcase products and content on the platform. Its advertising business includes promoted Pins and other advertising formats designed to help marketers reach users while they are discovering ideas, researching products and planning purchases.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.