Truist Financial Corp Has $2.48 Million Holdings in Pinterest, Inc. (NYSE:PINS)

Truist Financial Corp lifted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 8.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,955 shares of the company’s stock after buying an additional 5,483 shares during the quarter. Truist Financial Corp’s holdings in Pinterest were worth $2,480,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in Pinterest by 43.9% in the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after acquiring an additional 3,390,924 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of Pinterest by 12.6% during the fourth quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock worth $344,685,000 after purchasing an additional 1,043,173 shares during the period. Clearbridge Investments LLC increased its holdings in Pinterest by 26.0% in the third quarter. Clearbridge Investments LLC now owns 6,820,443 shares of the company’s stock valued at $184,357,000 after purchasing an additional 1,407,793 shares during the last quarter. FMR LLC lifted its stake in Pinterest by 8.1% in the third quarter. FMR LLC now owns 5,097,160 shares of the company’s stock valued at $137,776,000 after buying an additional 381,837 shares during the period. Finally, Fred Alger Management LLC lifted its stake in Pinterest by 279,496.9% in the third quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock valued at $126,286,000 after buying an additional 4,670,394 shares during the period. 88.81% of the stock is owned by institutional investors.

Insider Activity at Pinterest

In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the sale, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $36.65, for a total value of $733,000.00. Following the transaction, the director now owns 54,215 shares in the company, valued at approximately $1,986,979.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,471 shares of company stock worth $5,773,431. Company insiders own 7.11% of the company’s stock.

Pinterest Price Performance

Pinterest stock opened at $42.62 on Thursday. The company’s 50-day moving average is $35.16 and its 200-day moving average is $34.91. The firm has a market capitalization of $29.12 billion, a PE ratio of 202.96, a P/E/G ratio of 4.02 and a beta of 0.99. Pinterest, Inc. has a fifty-two week low of $21.02 and a fifty-two week high of $42.80.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The firm had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. As a group, analysts expect that Pinterest, Inc. will post 0.43 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on PINS shares. Sanford C. Bernstein upped their price target on Pinterest from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. Benchmark restated a “hold” rating on shares of Pinterest in a research report on Wednesday, May 1st. Royal Bank of Canada lifted their target price on Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Loop Capital boosted their target price on Pinterest from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Monday. Finally, Wedbush raised their price target on Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.26.

Pinterest 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.