Kestra Private Wealth Services LLC Invests $300,000 in Pinterest, Inc. (NYSE:PINS)

Key Points

• Kestra Private Wealth Services LLC has invested $300,000 in Pinterest, acquiring 9,678 shares in the company during the first quarter.
• Analysts show a mixed outlook for Pinterest, with Piper Sandler lowering their price target from $41.00 to $34.00 while UBS Group raised theirs from $44.00 to $50.00, indicating differing levels of confidence in the stock.
• Pinterest's most recent earnings report showed a net margin of 50.41%, with revenue up 15.5% year-over-year, though EPS came in below analyst expectations.

Kestra Private Wealth Services LLC purchased a new position in Pinterest, Inc. (NYSE:PINS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,678 shares of the company's stock, valued at approximately $300,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Redwood Investment Management LLC raised its holdings in Pinterest by 3.2% during the fourth quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock worth $463,000 after buying an additional 495 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in Pinterest by 9.3% during the fourth quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock worth $223,000 after buying an additional 656 shares during the last quarter. SteelPeak Wealth LLC raised its holdings in Pinterest by 1.5% during the first quarter. SteelPeak Wealth LLC now owns 46,613 shares of the company's stock worth $1,445,000 after buying an additional 670 shares during the last quarter. LRI Investments LLC raised its holdings in Pinterest by 97.7% during the first quarter. LRI Investments LLC now owns 1,374 shares of the company's stock worth $43,000 after buying an additional 679 shares during the last quarter. Finally, Resonant Capital Advisors LLC raised its holdings in Pinterest by 6.2% during the first quarter. Resonant Capital Advisors LLC now owns 11,787 shares of the company's stock worth $365,000 after buying an additional 686 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Insider Buying and Selling

In related news, CTO Matthew Madrigal sold 20,000 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $38.58, for a total value of $771,600.00. Following the sale, the chief technology officer owned 428,823 shares in the company, valued at $16,543,991.34. This represents a 4.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,510 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $35.68, for a total transaction of $410,676.80. Following the sale, the insider directly owned 390,230 shares in the company, valued at $13,923,406.40. This trade represents a 2.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,502,611 shares of company stock worth $51,602,943 over the last three months. Corporate insiders own 7.06% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Pinterest from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $37.00 to $45.00 in a research note on Monday, July 21st. JPMorgan Chase & Co. upgraded Pinterest from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $35.00 to $40.00 in a report on Tuesday, June 3rd. Citigroup reiterated a "buy" rating and set a $44.00 price target (up from $41.00) on shares of Pinterest in a report on Tuesday, June 24th. Wells Fargo & Company set a $42.00 price target on shares of Pinterest and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, UBS Group increased their price target on shares of Pinterest from $44.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Five investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $41.81.

Pinterest Price Performance

Pinterest stock traded up $0.27 during mid-day trading on Thursday, reaching $38.57. 3,906,907 shares of the company traded hands, compared to its average volume of 11,612,500. The firm's 50 day moving average price is $35.02 and its 200 day moving average price is $32.75. The firm has a market capitalization of $26.16 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 1.92 and a beta of 0.94. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $40.90.

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

Pinterest Company 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.