SWS Partners Buys 15,853 Shares of Pinterest, Inc. (NYSE:PINS)

SWS Partners raised its stake in Pinterest, Inc. (NYSE:PINS) by 16.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,641 shares of the company’s stock after buying an additional 15,853 shares during the period. Pinterest comprises about 1.2% of SWS Partners’ investment portfolio, making the stock its 20th biggest position. SWS Partners’ holdings in Pinterest were worth $3,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PINS. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Pinterest by 13.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after purchasing an additional 51,455 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in Pinterest by 10.5% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 231,822 shares of the company’s stock worth $8,586,000 after acquiring an additional 22,101 shares during the last quarter. Deltec Asset Management LLC bought a new stake in Pinterest in the 1st quarter worth $6,449,000. Russell Investments Group Ltd. grew its holdings in Pinterest by 38.0% in the 1st quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock worth $21,358,000 after acquiring an additional 169,052 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in Pinterest in the 2nd quarter worth $5,045,000. Institutional investors own 88.81% of the company’s stock.

Pinterest Trading Down 1.4 %

NYSE:PINS traded down $0.46 on Tuesday, reaching $33.52. 2,450,896 shares of the stock traded hands, compared to its average volume of 9,421,624. The company has a market capitalization of $22.90 billion, a price-to-earnings ratio of 160.10, a PEG ratio of 2.61 and a beta of 1.01. Pinterest, Inc. has a 12 month low of $23.59 and a 12 month high of $45.19. The company’s fifty day simple moving average is $31.16 and its 200 day simple moving average is $36.54.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The firm had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. During the same period in the previous year, the business posted ($0.04) earnings per share. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. Equities analysts anticipate that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PINS shares. JPMorgan Chase & Co. cut their price target on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Wolfe Research initiated coverage on shares of Pinterest in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Wedbush dropped their target price on shares of Pinterest from $46.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a research report on Wednesday, July 31st. Finally, Oppenheimer initiated coverage on shares of Pinterest in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $45.00 target price for the company. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and an average price target of $43.32.

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.