US Bancorp DE Buys 18,955 Shares of Pinterest, Inc. $PINS

Key Points

• US Bancorp DE significantly increased its stake in Pinterest, Inc. by 87.6% during the second quarter, acquiring an additional 18,955 shares, bringing its total holdings to 40,596 shares valued at approximately $1.46 million.
• Insiders, including the CFO and CTO, have sold a combined total of 762,319 shares of Pinterest stock valued at around $27.5 million over the past three months, reducing their ownership percentages.
• Pinterest's stock currently has a market capitalization of $22.14 billion and is trading around $32.56, with analysts giving it a consensus target price of $42.67 and an average rating of "Moderate Buy."

US Bancorp DE grew its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 87.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,596 shares of the company's stock after acquiring an additional 18,955 shares during the quarter. US Bancorp DE's holdings in Pinterest were worth $1,456,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its holdings in shares of Pinterest by 73.9% during the first quarter. Janney Montgomery Scott LLC now owns 89,034 shares of the company's stock valued at $2,760,000 after acquiring an additional 37,829 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Pinterest by 15.6% during the second quarter. Truist Financial Corp now owns 98,363 shares of the company's stock valued at $3,527,000 after acquiring an additional 13,267 shares in the last quarter. Ninety One UK Ltd increased its holdings in shares of Pinterest by 11.0% during the second quarter. Ninety One UK Ltd now owns 6,689,112 shares of the company's stock valued at $239,872,000 after acquiring an additional 661,757 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Pinterest during the first quarter valued at $235,000. Finally, Guild Investment Management Inc. increased its holdings in shares of Pinterest by 47.5% during the second quarter. Guild Investment Management Inc. now owns 34,955 shares of the company's stock valued at $1,253,000 after acquiring an additional 11,250 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Insider Transactions at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the firm's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the transaction, the chief financial officer directly owned 312,422 shares of the company's stock, valued at approximately $10,887,906.70. This trade represents a 6.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Matthew Madrigal sold 20,000 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $38.58, for a total value of $771,600.00. Following the completion of the transaction, the chief technology officer directly owned 428,823 shares in the company, valued at $16,543,991.34. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 762,319 shares of company stock valued at $27,523,976. Company insiders own 7.06% of the company's stock.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $32.56 on Friday. The stock has a market capitalization of $22.14 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.40 and a beta of 0.81. The stock's 50-day simple moving average is $34.76 and its two-hundred day simple moving average is $33.13. 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 announced its earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $665.93 million for the quarter. Pinterest had a return on equity of 8.44% and a net margin of 49.31%. As a group, equities analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PINS. TD Cowen raised their price target on Pinterest from $40.00 to $43.00 and gave the company a "buy" rating in a report on Tuesday, July 15th. Stifel Nicolaus lifted their price objective on Pinterest from $46.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, August 8th. UBS Group lifted their price objective on Pinterest from $50.00 to $51.00 and gave the stock a "buy" rating in a report on Thursday, October 9th. Wells Fargo & Company set a $42.00 price objective on Pinterest and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Finally, Barclays lifted their price objective on Pinterest from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $42.67.

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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