Insight Wealth Strategies LLC Makes New Investment in Pinterest, Inc. $PINS

Key Points

• Insight Wealth Strategies acquired 259,441 Pinterest shares during the third quarter, valued at approximately $4.9 million. Institutional investors collectively own 88.81% of Pinterest’s stock.
• Analyst sentiment remains mixed but improving: several firms raised their price targets, while the consensus rating is “Hold” with an average target of $27.90.
• Pinterest exceeded quarterly expectations, reporting $0.43 in EPS and $1.18 billion in revenue, up 18.2% year over year. However, insiders sold 644,952 shares worth about $13.7 million over the past 90 days.

Insight Wealth Strategies LLC acquired a new position in Pinterest, Inc. (NYSE:PINS - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 259,441 shares of the company's stock, valued at approximately $4,901,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its stake in shares of Pinterest by 2,017.3% in 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 in the last quarter. MidFirst Bank acquired a new stake in Pinterest during the 4th quarter valued at approximately $44,000. Summit Securities Group LLC purchased a new stake in Pinterest during the 1st quarter worth approximately $43,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Pinterest during the 4th quarter worth approximately $85,000. Finally, Bessemer Group Inc. raised its position in shares of Pinterest by 445.1% in the 1st quarter. Bessemer Group Inc. now owns 3,712 shares of the company's stock valued at $68,000 after purchasing an additional 3,031 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PINS has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Pinterest from a "hold" rating to a "buy" rating in a research report on Sunday, August 9th. BMO Capital Markets increased their price objective on shares of Pinterest from $30.00 to $34.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Morgan Stanley raised their price objective on shares of Pinterest from $30.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Barclays boosted their target price on shares of Pinterest from $27.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 5th. Finally, Evercore increased their price target on shares of Pinterest from $27.00 to $29.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 5th. Eighteen equities research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company. Based on data from MarketBeat, Pinterest has an average rating of "Hold" and an average price target of $27.90.

Pinterest Stock Performance

Shares of Pinterest stock traded up $0.80 during trading hours on Friday, reaching $21.33. The company's stock had a trading volume of 4,971,024 shares, compared to its average volume of 16,672,223. The company's 50 day simple moving average is $21.21 and its 200 day simple moving average is $20.80. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.81 and a current ratio of 3.81. Pinterest, Inc. has a one year low of $13.84 and a one year high of $35.42. The stock has a market cap of $11.95 billion, a P/E ratio of 62.72, a price-to-earnings-growth ratio of 1.33 and a beta of 0.90.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.07. Pinterest had a net margin of 5.46% and a return on equity of 7.49%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. The company's revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, analysts expect that Pinterest, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Benjamin Silbermann sold 93,750 shares of the company's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $21.43, for a total transaction of $2,009,062.50. The transaction was disclosed in a document filed 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, CFO Julia Donnelly sold 59,096 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $23.48, for a total transaction of $1,387,574.08. Following the completion of the sale, the chief financial officer directly owned 817,409 shares in the company, valued at approximately $19,192,763.32. This trade represents a 6.74% 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 have sold a total of 644,952 shares of company stock valued at $13,697,957 in the last 90 days. Insiders own 8.09% of the company's stock.

Pinterest Profile

Pinterest, Inc operates a visual discovery and planning platform that helps people find, save and organize ideas for projects, interests and everyday activities. Users can collect images, videos and other content as “Pins” and arrange them on personalized or collaborative boards. The platform supports discovery across areas such as home design, food, fashion, travel, beauty and do-it-yourself projects.

Pinterest also provides tools for businesses and creators, including visual advertising, shopping features, product catalogs and analytics.

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