Probity Advisors Inc. Increases Stock Position in Pinterest, Inc. (NYSE:PINS)

Probity Advisors Inc. increased its position in Pinterest, Inc. (NYSE:PINS) by 35.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,524 shares of the company’s stock after buying an additional 1,719 shares during the quarter. Probity Advisors Inc.’s holdings in Pinterest were worth $211,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brown Shipley& Co Ltd purchased a new position in shares of Pinterest in the second quarter valued at $25,000. Wellington Shields Capital Management LLC bought a new position in Pinterest during the 2nd quarter valued at $26,000. Hexagon Capital Partners LLC boosted its stake in Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after acquiring an additional 459 shares during the last quarter. GAMMA Investing LLC boosted its stake in Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after acquiring an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in Pinterest during the 2nd quarter valued at $35,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the transaction, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the transaction, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Pinterest Trading Down 1.3 %

Pinterest stock opened at $32.93 on Friday. The stock has a market cap of $22.50 billion, a price-to-earnings ratio of 156.81, a PEG ratio of 2.61 and a beta of 1.01. The company’s 50-day moving average price is $31.42 and its two-hundred day moving average price is $36.50. Pinterest, Inc. has a 52 week low of $23.59 and a 52 week high of $45.19.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. Pinterest’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) EPS. Research analysts expect that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on PINS shares. Citigroup reduced their price objective on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus reduced their price objective on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Robert W. Baird dropped their target price on shares of Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Raymond James dropped their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, Oppenheimer began coverage on shares of Pinterest in a report on Tuesday, September 24th. They set an “outperform” rating and a $45.00 target price on the stock. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.32.

Pinterest Company Profile

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.