Fifth Third Bancorp Has $2.87 Million Holdings in Pinterest, Inc. $PINS

Key Points

• Fifth Third Bancorp massively increased its Pinterest stake in Q1, boosting holdings by 4,264.5% to 156,556 shares valued at about $2.87 million.
• Pinterest reported better-than-expected earnings for the latest quarter, with EPS of $0.27 versus $0.22 expected and revenue of $1.01 billion, up 17.8% year over year.
• Analysts remain mixed but generally constructive on the stock, with an average rating of Hold and an average price target of $27.66, while insiders have recently sold shares under pre-arranged trading plans.

Fifth Third Bancorp grew its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 4,264.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,556 shares of the company's stock after acquiring an additional 152,969 shares during the period. Fifth Third Bancorp's holdings in Pinterest were worth $2,871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of PINS. Elevated Capital Advisors LLC bought a new position in Pinterest in the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd raised its position in shares of Pinterest by 2,017.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company's stock worth $29,000 after acquiring an additional 1,049 shares during the last quarter. Addison Advisors LLC raised its position in shares of Pinterest by 727.3% during 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 during the last quarter. Garner Asset Management Corp acquired a new position in shares of Pinterest during the fourth quarter valued at $36,000. Finally, Summit Securities Group LLC acquired a new position in shares of Pinterest during the first quarter valued at $43,000. 88.81% of the stock is owned by institutional investors.

Pinterest Stock Down 1.6%

Shares of NYSE PINS opened at $22.82 on Tuesday. The stock has a market cap of $12.78 billion, a P/E ratio of 47.54, a P/E/G ratio of 1.32 and a beta of 0.89. The firm has a 50 day moving average price of $20.97 and a 200 day moving average price of $20.74. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. The company had revenue of $1.01 billion for 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 business's revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. Analysts expect that Pinterest, Inc. will post 0.65 EPS for the current year.

Insider Buying and Selling at Pinterest

In related news, Director Benjamin Silbermann sold 46,875 shares of the company's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $22.63, for a total value of $1,060,781.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the firm's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $20.46, for a total value of $559,315.02. Following the sale, the insider directly owned 724,673 shares in the company, valued at $14,826,809.58. The trade was a 3.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 323,845 shares of company stock valued at $6,836,065 in the last three months. 8.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PINS shares. Oppenheimer boosted their price objective on Pinterest from $24.00 to $30.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Benchmark lowered their price target on shares of Pinterest from $34.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. Citigroup increased their price objective on shares of Pinterest from $19.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, May 5th. Barclays lifted their target price on shares of Pinterest from $25.00 to $27.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 5th. Finally, DA Davidson began coverage on shares of Pinterest in a research report on Wednesday, July 8th. They set a "buy" rating and a $26.00 target price for the company. Seventeen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $27.66.

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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