Vestmark Advisory Solutions Inc. Takes Position in Pinterest, Inc. (NYSE:PINS)

Vestmark Advisory Solutions Inc. purchased a new position in Pinterest, Inc. (NYSE:PINS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 62,724 shares of the company’s stock, valued at approximately $2,323,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC bought a new position in Pinterest during the fourth quarter valued at $27,000. Rakuten Securities Inc. purchased a new stake in Pinterest in the 4th quarter worth about $30,000. Washington Trust Advisors Inc. raised its stake in Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares during the period. Clear Street Markets LLC purchased a new stake in Pinterest during the third quarter valued at about $41,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Pinterest during the fourth quarter valued at about $43,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Price Performance

Pinterest stock traded down $0.09 during mid-day trading on Friday, hitting $40.41. The company’s stock had a trading volume of 9,685,456 shares, compared to its average volume of 10,543,186. The business has a 50 day moving average price of $34.79 and a 200-day moving average price of $34.53. Pinterest, Inc. has a 12 month low of $20.60 and a 12 month high of $41.60. The stock has a market cap of $27.44 billion, a price-to-earnings ratio of 192.44, a price-to-earnings-growth ratio of 4.64 and a beta of 0.99.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The company had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. On average, equities research analysts expect that Pinterest, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Activity

In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the sale, the chief financial officer now owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now directly owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the transaction, the chief financial officer now owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,471 shares of company stock valued at $5,773,431. 7.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Stifel Nicolaus increased their target price on Pinterest from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada raised their target price on Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday. KeyCorp decreased their price target on Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Wedbush raised their price objective on shares of Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Piper Sandler boosted their price objective on shares of Pinterest from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $40.82.

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.