HB Wealth Management LLC Acquires Shares of 13,902 Pinterest, Inc. (NYSE:PINS)

Key Points

• HB Wealth Management LLC acquired 13,902 shares of Pinterest, Inc., valued at approximately $431,000, in the first quarter, indicating growing institutional interest in the company.
• Analysts have raised their price targets for Pinterest shares, with a consensus target price of $41.48 and a majority rating of "Moderate Buy," reflecting positive sentiment towards the stock.
• In recent transactions, both a director and the CFO sold shares of Pinterest, with significant decreases in their ownership stakes, suggesting mixed signals about insider confidence in the stock.

HB Wealth Management LLC acquired a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,902 shares of the company's stock, valued at approximately $431,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PINS. Revolve Wealth Partners LLC acquired a new stake in shares of Pinterest during the 4th quarter worth approximately $252,000. LPL Financial LLC increased its holdings in shares of Pinterest by 3.6% during the 4th quarter. LPL Financial LLC now owns 438,427 shares of the company's stock worth $12,714,000 after buying an additional 15,164 shares during the last quarter. Blair William & Co. IL acquired a new stake in shares of Pinterest during the 4th quarter worth approximately $799,000. Orion Portfolio Solutions LLC increased its holdings in shares of Pinterest by 30.3% during the 4th quarter. Orion Portfolio Solutions LLC now owns 8,215 shares of the company's stock worth $238,000 after buying an additional 1,909 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Pinterest during the 4th quarter worth approximately $279,000. Institutional investors and hedge funds own 88.81% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PINS shares. Sanford C. Bernstein raised their price target on shares of Pinterest from $40.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Stifel Nicolaus raised their price target on shares of Pinterest from $40.00 to $46.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group cut their price target on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a report on Monday, April 14th. Wolfe Research upgraded shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 price target for the company in a report on Thursday, May 15th. Finally, Monness Crespi & Hardt cut their price target on shares of Pinterest from $50.00 to $40.00 and set a "buy" rating for the company in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $41.48.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $36.88, for a total transaction of $42,412.00. Following the completion of the sale, the director directly owned 31,750 shares of the company's stock, valued at approximately $1,170,940. The trade was a 3.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 29,606 shares of Pinterest stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the sale, the chief financial officer directly owned 362,890 shares of the company's stock, valued at approximately $12,428,982.50. This trade represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,502,611 shares of company stock worth $51,602,943. 7.06% of the stock is currently owned by company insiders.

Pinterest Stock Performance

Shares of PINS opened at $38.62 on Friday. The stock has a 50-day simple moving average of $35.16 and a 200-day simple moving average of $32.81. The stock has a market capitalization of $26.20 billion, a PE ratio of 14.10, a PEG ratio of 1.92 and a beta of 0.94. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The business's quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 EPS. Analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Pinterest Profile

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.

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