NewEdge Wealth LLC Buys 74,572 Shares of Pinterest, Inc. (NYSE:PINS)

NewEdge Wealth LLC lifted its stake in Pinterest, Inc. (NYSE:PINS) by 21.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 424,329 shares of the company’s stock after purchasing an additional 74,572 shares during the quarter. NewEdge Wealth LLC’s holdings in Pinterest were worth $12,306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its holdings in Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock worth $205,000 after acquiring an additional 313 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Pinterest by 3.7% in the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after purchasing an additional 339 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Pinterest by 2.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock worth $366,000 after purchasing an additional 342 shares in the last quarter. Amalgamated Bank raised its position in shares of Pinterest by 0.9% during the 4th quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock valued at $1,154,000 after purchasing an additional 372 shares during the period. Finally, Commerce Bank lifted its stake in shares of Pinterest by 3.3% during the 3rd quarter. Commerce Bank now owns 11,868 shares of the company’s stock valued at $384,000 after buying an additional 378 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PINS has been the subject of a number of analyst reports. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price target (down previously from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Morgan Stanley increased their target price on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Barclays boosted their price target on Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. UBS Group cut their price objective on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, Oppenheimer lifted their price objective on shares of Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $43.47.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now directly owns 30,236 shares in the company, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the transaction, the chief accounting officer now owns 144,129 shares in the company, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,117 shares of company stock worth $253,056 over the last 90 days. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Up 0.9 %

NYSE PINS opened at $36.93 on Thursday. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The firm has a market capitalization of $25.05 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.95 and a beta of 1.06. The company has a fifty day moving average of $33.16 and a two-hundred day moving average of $31.99.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Equities research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

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.