BTC Capital Management Inc. Buys New Shares in Pinterest, Inc. $PINS

BTC Capital Management Inc. bought a new position in shares of Pinterest, Inc. (NYSE:PINSFree Report) during the 3rd quarter, Holdings Channel.com reports. The firm bought 185,977 shares of the company’s stock, valued at approximately $5,983,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its stake in shares of Pinterest by 282.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after acquiring an additional 506 shares during the last quarter. N.E.W. Advisory Services LLC boosted its position in shares of Pinterest by 505.7% in the third quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock worth $27,000 after acquiring an additional 713 shares during the last quarter. Atlantic Union Bankshares Corp boosted its position in shares of Pinterest by 3,839.1% in the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after acquiring an additional 883 shares during the last quarter. Wellington Shields Capital Management LLC purchased a new stake in Pinterest in the second quarter valued at approximately $40,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Pinterest by 46.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company’s stock worth $42,000 after purchasing an additional 419 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $590,151.06. Following the completion of the sale, the chief financial officer owned 540,358 shares of the company’s stock, valued at $13,973,657.88. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Malik Ducard sold 6,000 shares of Pinterest stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $155,160.00. Following the sale, the insider owned 699,773 shares in the company, valued at $18,096,129.78. This represents a 0.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,407 shares of company stock worth $855,925 over the last three months. 7.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PINS shares. Royal Bank Of Canada downgraded shares of Pinterest from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $38.00 to $17.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft downgraded Pinterest from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a report on Friday. BMO Capital Markets set a $28.00 target price on Pinterest and gave the company an “outperform” rating in a report on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Pinterest in a research report on Monday, December 29th. Finally, Citigroup lowered Pinterest from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $38.00 to $19.00 in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eighteen have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.31.

Read Our Latest Analysis on Pinterest

Pinterest Trading Down 16.9%

Shares of NYSE PINS opened at $15.40 on Friday. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $39.93. The company has a market cap of $10.41 billion, a P/E ratio of 25.25, a P/E/G ratio of 0.81 and a beta of 0.92. The stock has a fifty day moving average price of $24.68 and a 200 day moving average price of $29.98.

Pinterest (NYSE:PINSGet Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). Pinterest had a return on equity of 7.93% and a net margin of 9.87%.The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Key Stories Impacting Pinterest

Here are the key news stories impacting Pinterest this week:

Pinterest Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINSFree Report).

Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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