OLD National Bancorp IN Has $14.15 Million Holdings in Pinterest, Inc. (NYSE:PINS)

OLD National Bancorp IN increased its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 456,367 shares of the company's stock after purchasing an additional 8,268 shares during the period. OLD National Bancorp IN owned 0.07% of Pinterest worth $14,147,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sivia Capital Partners LLC acquired a new position in shares of Pinterest during the first quarter worth approximately $208,000. Radnor Capital Management LLC acquired a new position in Pinterest during the 1st quarter worth $751,000. Lifestyle Asset Management Inc. bought a new position in shares of Pinterest in the first quarter worth $911,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of Pinterest by 44.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 23,690 shares of the company's stock worth $734,000 after purchasing an additional 7,299 shares in the last quarter. Finally, Merit Financial Group LLC increased its holdings in shares of Pinterest by 231.6% during the first quarter. Merit Financial Group LLC now owns 41,469 shares of the company's stock valued at $1,286,000 after purchasing an additional 28,962 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PINS. UBS Group decreased their target price on shares of Pinterest from $50.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Oppenheimer boosted their target price on Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Guggenheim decreased their price target on Pinterest from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group lowered their price target on Pinterest from $47.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley upped their price objective on Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Six equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $40.42.

Pinterest Stock Down 1.0%

Shares of PINS traded down $0.35 during mid-day trading on Wednesday, hitting $34.76. 9,187,594 shares of the company's stock were exchanged, compared to its average volume of 10,882,298. The stock has a market cap of $23.58 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 1.95 and a beta of 0.91. The firm has a fifty day moving average of $28.94 and a two-hundred day moving average of $31.43. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $854.99 million for the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Pinterest's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share. On average, equities analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Activity

In related news, Director Jeremy S. Levine sold 6,274 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $34.11, for a total value of $214,006.14. Following the transaction, the director now directly owns 1,158,833 shares in the company, valued at approximately $39,527,793.63. This trade represents a 0.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $33.21, for a total transaction of $3,390,176.43. Following the sale, the director now owns 8,414 shares of the company's stock, valued at $279,428.94. This trade represents a 92.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,075,021 shares of company stock valued at $35,038,914 over the last 90 days. 7.06% of the stock is currently owned by company insiders.

About Pinterest

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.