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Cerity Partners LLC Has $4.28 Million Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Pinterest logo with Computer and Technology background

Cerity Partners LLC grew its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 28.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 138,098 shares of the company's stock after acquiring an additional 30,317 shares during the period. Cerity Partners LLC's holdings in Pinterest were worth $4,281,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Redwood Investment Management LLC grew its holdings in shares of Pinterest by 3.2% during the 4th quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock valued at $463,000 after acquiring an additional 495 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Pinterest by 9.3% during the 4th quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock valued at $223,000 after acquiring an additional 656 shares in the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of Pinterest by 6.2% during the 1st quarter. Resonant Capital Advisors LLC now owns 11,787 shares of the company's stock valued at $365,000 after acquiring an additional 686 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Pinterest by 49.0% during the 4th quarter. True Wealth Design LLC now owns 2,243 shares of the company's stock valued at $65,000 after acquiring an additional 738 shares in the last quarter. Finally, Mather Group LLC. grew its holdings in shares of Pinterest by 133.5% during the 1st quarter. Mather Group LLC. now owns 1,310 shares of the company's stock valued at $41,000 after acquiring an additional 749 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 408,332 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total value of $13,540,289.12. Following the completion of the transaction, the director owned 6,274 shares of the company's stock, valued at $208,045.84. This represents a 98.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 1,381,678 shares of company stock valued at $46,988,343 over the last three months. Corporate insiders own 7.06% of the company's stock.

Pinterest Stock Performance

Shares of PINS traded up $1.16 during trading hours on Friday, reaching $37.24. 11,532,408 shares of the company traded hands, compared to its average volume of 11,078,169. The stock's fifty day moving average is $34.13 and its 200 day moving average is $32.36. The stock has a market cap of $25.26 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 1.78 and a beta of 0.94. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $42.20.

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

Wall Street Analysts Forecast Growth

PINS has been the subject of a number of recent research reports. Oppenheimer upped their price objective on shares of Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. TD Cowen upped their price objective on shares of Pinterest from $40.00 to $43.00 and gave the stock a "buy" rating in a report on Tuesday. Piper Sandler decreased their price objective on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Bank of America decreased their price objective on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Citigroup reiterated a "buy" rating and issued a $44.00 price objective (up from $41.00) on shares of Pinterest in a report on Tuesday, June 24th. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, Pinterest currently has an average rating of "Moderate Buy" and a consensus price target of $41.19.

Get Our Latest Analysis on PINS

About Pinterest

(Free Report)

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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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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