Clearwater Capital Advisors LLC Makes New $335,000 Investment in Pinterest, Inc. (NYSE:PINS)

Clearwater Capital Advisors LLC bought a new position in shares of Pinterest, Inc. (NYSE:PINS) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,034 shares of the company’s stock, valued at approximately $335,000.

Several other large investors have also added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new position in Pinterest during the fourth quarter worth about $27,000. Rakuten Securities Inc. bought a new position in shares of Pinterest in the fourth quarter valued at approximately $30,000. Washington Trust Advisors Inc. lifted its holdings in Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after acquiring an additional 326 shares during the period. Clear Street Markets LLC bought a new stake in shares of Pinterest during the 3rd quarter worth $41,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Pinterest in the 4th quarter worth about $43,000. Institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

PINS has been the topic of several research reports. BMO Capital Markets boosted their target price on Pinterest from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Loop Capital boosted their target price on shares of Pinterest from $43.00 to $49.00 and gave the company a “buy” rating in a report on Monday. Citigroup raised their price target on Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Stifel Nicolaus boosted their price objective on Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Susquehanna raised their target price on Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research note on Friday, February 9th. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.26.

Insider Buying and Selling at Pinterest

In other news, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $36.65, for a total transaction of $733,000.00. Following the completion of the sale, the director now directly owns 54,215 shares of the company’s stock, valued at approximately $1,986,979.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction 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 owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The disclosure for this sale can be found here. Insiders sold a total of 164,471 shares of company stock worth $5,773,431 in the last three months. 7.11% of the stock is currently owned by company insiders.

Pinterest Price Performance

Pinterest stock traded down $0.14 during midday trading on Thursday, reaching $42.50. 3,633,838 shares of the company traded hands, compared to its average volume of 10,157,727. Pinterest, Inc. has a 12 month low of $21.02 and a 12 month high of $42.85. The business has a 50 day moving average of $35.16 and a two-hundred day moving average of $34.91. The firm has a market capitalization of $29.03 billion, a price-to-earnings ratio of 202.38, a price-to-earnings-growth ratio of 4.02 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its quarterly 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 firm had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. As a group, equities analysts forecast that Pinterest, Inc. will post 0.43 EPS for the current year.

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.