OLD National Bancorp IN Sells 36,843 Shares of Pinterest, Inc. $PINS

OLD National Bancorp IN cut its holdings in Pinterest, Inc. (NYSE:PINS) by 7.8% during the first quarter, Holdings Channel.com reports. The firm owned 434,755 shares of the company’s stock after selling 36,843 shares during the quarter. OLD National Bancorp IN’s holdings in Pinterest were worth $7,973,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PINS. Elevated Capital Advisors LLC acquired a new position in Pinterest during the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd increased its stake in Pinterest by 2,017.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock valued at $29,000 after buying an additional 1,049 shares during the last quarter. Addison Advisors LLC lifted its position in Pinterest by 727.3% during the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after buying an additional 1,200 shares in the last quarter. Garner Asset Management Corp bought a new stake in Pinterest during the 4th quarter worth about $36,000. Finally, MidFirst Bank acquired a new position in shares of Pinterest during the 4th quarter worth about $44,000. Institutional investors own 88.81% of the company’s stock.

Pinterest Trading Up 6.7%

PINS stock opened at $20.79 on Friday. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93. The stock has a market cap of $11.65 billion, a price-to-earnings ratio of 43.31, a price-to-earnings-growth ratio of 1.11 and a beta of 0.92. The company has a fifty day moving average price of $20.37 and a two-hundred day moving average price of $21.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The company’s revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 earnings per share. Equities analysts anticipate that Pinterest, Inc. will post 0.65 EPS for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 27,337 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $20.46, for a total value of $559,315.02. Following the transaction, the insider directly owned 724,673 shares of the company’s stock, valued at $14,826,809.58. This represents a 3.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $19.99, for a total transaction of $937,031.25. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 232,195 shares of company stock valued at $4,811,815 in the last three months. 8.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PINS. Rothschild & Co Redburn set a $23.00 price objective on Pinterest and gave the company a “neutral” rating in a report on Monday, April 27th. BMO Capital Markets reiterated an “outperform” rating and set a $30.00 target price on shares of Pinterest in a report on Tuesday, May 5th. Oppenheimer increased their price target on Pinterest from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. raised their price target on Pinterest from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Finally, Evercore set a $27.00 price target on Pinterest in a research report on Tuesday, May 5th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.40.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.