Park Avenue Securities LLC Invests $242,000 in Pinterest, Inc. (NYSE:PINS)

Park Avenue Securities LLC purchased a new position in Pinterest, Inc. (NYSE:PINSGet Rating) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,370 shares of the company’s stock, valued at approximately $242,000.

Several other hedge funds have also recently modified their holdings of PINS. Acadian Asset Management LLC lifted its position in shares of Pinterest by 21.9% in the 1st quarter. Acadian Asset Management LLC now owns 13,589 shares of the company’s stock worth $334,000 after purchasing an additional 2,437 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of Pinterest in the 1st quarter worth approximately $906,000. Raymond James Trust N.A. raised its stake in shares of Pinterest by 29.0% during the 1st quarter. Raymond James Trust N.A. now owns 11,342 shares of the company’s stock worth $279,000 after acquiring an additional 2,550 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Pinterest by 11.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 492,299 shares of the company’s stock worth $12,118,000 after acquiring an additional 51,318 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Pinterest by 261.5% during the 1st quarter. Sei Investments Co. now owns 273,925 shares of the company’s stock worth $6,691,000 after acquiring an additional 198,153 shares in the last quarter. Hedge funds and other institutional investors own 71.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PINS shares. Guggenheim boosted their price objective on shares of Pinterest to $26.00 in a research note on Tuesday, November 1st. Morgan Stanley boosted their price objective on shares of Pinterest from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 18th. The Goldman Sachs Group upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $31.00 in a research note on Wednesday, October 5th. Credit Suisse Group reduced their price objective on shares of Pinterest from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, October 28th. Finally, MKM Partners lowered shares of Pinterest from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a research note on Friday. Fifteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $28.88.

Pinterest Stock Performance

Shares of NYSE PINS opened at $26.69 on Tuesday. The company’s fifty day moving average price is $24.82 and its 200 day moving average price is $23.30. Pinterest, Inc. has a 1 year low of $16.14 and a 1 year high of $31.16. The company has a market capitalization of $18.10 billion, a PE ratio of 381.34 and a beta of 0.97.

Pinterest (NYSE:PINSGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. Pinterest had a net margin of 2.21% and a return on equity of 3.10%. The firm had revenue of $684.55 million for the quarter, compared to the consensus estimate of $664.97 million. On average, equities analysts expect that Pinterest, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest news, SVP Naveen Gavini sold 4,756 shares of the stock in a transaction on Monday, November 14th. The shares were sold at an average price of $24.50, for a total transaction of $116,522.00. Following the transaction, the senior vice president now directly owns 464,979 shares of the company’s stock, valued at $11,391,985.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Pinterest news, SVP Naveen Gavini sold 4,756 shares of the stock in a transaction on Monday, November 14th. The shares were sold at an average price of $24.50, for a total transaction of $116,522.00. Following the transaction, the senior vice president now directly owns 464,979 shares of the company’s stock, valued at $11,391,985.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Evan Sharp sold 55,241 shares of the stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $21.18, for a total transaction of $1,170,004.38. Following the transaction, the director now directly owns 39,805 shares in the company, valued at $843,069.90. The disclosure for this sale can be found here. Insiders have sold a total of 2,596,714 shares of company stock valued at $63,584,714 over the last ninety days. Corporate insiders own 7.58% of the company’s stock.

Pinterest Profile

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.

See Also

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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