Pinterest, Inc. $PINS Shares Acquired by Quintet Private Bank Europe S.A.

by · The Markets Daily

Quintet Private Bank Europe S.A. boosted its stake in Pinterest, Inc. (NYSE:PINS – Free Report) by 41.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 85,800 shares of the company’s stock after purchasing an additional 25,193 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Pinterest were worth $2,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in PINS. Golden State Wealth Management LLC grew its position in shares of Pinterest by 282.7% during the second quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after acquiring an additional 506 shares during the last quarter. West Branch Capital LLC bought a new stake in shares of Pinterest during the second quarter valued at approximately $36,000. Wellington Shields Capital Management LLC acquired a new position in shares of Pinterest during the second quarter worth approximately $40,000. Newbridge Financial Services Group Inc. bought a new position in Pinterest in the 2nd quarter worth approximately $45,000. Finally, SVB Wealth LLC bought a new stake in Pinterest during the 1st quarter valued at $56,000. 88.81% of the stock is currently owned by institutional investors.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction on 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 in the company, valued at $10,887,906.70. The trade was a 6.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. The SEC filing for this sale provides additional information. Insiders sold a total of 198,959 shares of company stock valued at $6,345,304 in the last three months. 7.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on PINS. BMO Capital Markets decreased their price target on Pinterest from $41.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Sanford C. Bernstein decreased their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Evercore ISI dropped their price target on shares of Pinterest from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. JPMorgan Chase & Co. reduced their price target on shares of Pinterest from $44.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Finally, Morgan Stanley lowered their price objective on shares of Pinterest from $41.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.97.

Check Out Our Latest Stock Analysis on PINS

Pinterest Price Performance

Shares of PINS opened at $25.80 on Wednesday. The firm’s 50 day moving average is $28.97 and its 200-day moving average is $33.28. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90. The stock has a market capitalization of $17.43 billion, a P/E ratio of 8.96, a P/E/G ratio of 1.63 and a beta of 0.89.

Pinterest (NYSE:PINS – Get Free Report) last released its earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The business had revenue of $665.93 million during the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. As a group, equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.

See Also

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