Clearwater Capital Advisors LLC Grows Stake in Pinterest, Inc. (NYSE:PINS)

Clearwater Capital Advisors LLC lifted its position in shares of Pinterest, Inc. (NYSE:PINS) by 29.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 11,729 shares of the company’s stock after acquiring an additional 2,695 shares during the quarter. Clearwater Capital Advisors LLC’s holdings in Pinterest were worth $407,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PINS. GAMMA Investing LLC purchased a new position in shares of Pinterest in the 4th quarter worth approximately $27,000. Rakuten Securities Inc. purchased a new position in Pinterest in the 4th quarter worth $30,000. Washington Trust Advisors Inc. lifted its position in Pinterest by 46.0% during the 4th 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. Quent Capital LLC grew its stake in Pinterest by 71.2% during the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 460 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Pinterest in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Price Performance

Pinterest stock traded up $0.23 during midday trading on Thursday, reaching $40.93. The company had a trading volume of 9,724,373 shares, compared to its average volume of 9,226,817. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19. The firm’s fifty day simple moving average is $42.67 and its 200-day simple moving average is $38.38. The company has a market capitalization of $27.96 billion, a P/E ratio of 192.91, a P/E/G ratio of 3.98 and a beta of 0.97.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.05. The business had revenue of $739.98 million for the quarter, compared to the consensus estimate of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. On average, analysts expect that Pinterest, Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup increased their price target on shares of Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Wells Fargo & Company upped their price target on shares of Pinterest from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, June 25th. Piper Sandler reaffirmed an “overweight” rating and set a $52.00 price target on shares of Pinterest in a research report on Friday, June 14th. Benchmark reissued a “hold” rating on shares of Pinterest in a report on Wednesday, May 1st. Finally, Stifel Nicolaus raised their target price on Pinterest from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.04.

Insider Buying and Selling at Pinterest

In other news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $43.90, for a total value of $168,795.50. Following the transaction, the chief accounting officer now directly owns 189,470 shares of the company’s stock, valued at $8,317,733. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,627 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the transaction, the insider now owns 307,256 shares of the company’s stock, valued at $12,726,543.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total value of $168,795.50. Following the completion of the sale, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,250 shares of company stock worth $2,191,304. Corporate insiders own 7.11% of the company’s stock.

About Pinterest

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.