Resonant Capital Advisors LLC Has $503,000 Stake in Pinterest, Inc. (NYSE:PINS)

Resonant Capital Advisors LLC grew its stake in shares of Pinterest, Inc. (NYSE:PINS) by 6.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 11,407 shares of the company’s stock after buying an additional 714 shares during the period. Resonant Capital Advisors LLC’s holdings in Pinterest were worth $503,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. GraniteShares Advisors LLC raised its stake in shares of Pinterest by 8.5% in the second quarter. GraniteShares Advisors LLC now owns 17,373 shares of the company’s stock valued at $766,000 after purchasing an additional 1,361 shares in the last quarter. Interchange Capital Partners LLC acquired a new position in shares of Pinterest in the 2nd quarter valued at $257,000. nVerses Capital LLC bought a new position in shares of Pinterest during the 2nd quarter worth about $604,000. Van ECK Associates Corp lifted its holdings in shares of Pinterest by 1.0% during the 2nd quarter. Van ECK Associates Corp now owns 63,910 shares of the company’s stock worth $2,817,000 after acquiring an additional 612 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. boosted its position in shares of Pinterest by 10.2% during the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 101,157 shares of the company’s stock valued at $4,458,000 after acquiring an additional 9,394 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

PINS has been the subject of several analyst reports. Morgan Stanley raised their target price on Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 target price on shares of Pinterest in a research note on Monday, July 29th. Piper Sandler lowered their target price on shares of Pinterest from $52.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus cut their price target on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Loop Capital upped their price objective on shares of Pinterest from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.71.

Pinterest Trading Up 2.7 %

NYSE:PINS opened at $32.04 on Tuesday. Pinterest, Inc. has a 1 year low of $23.59 and a 1 year high of $45.19. The stock has a 50-day moving average price of $36.37 and a two-hundred day moving average price of $37.34. The stock has a market cap of $21.99 billion, a price-to-earnings ratio of 152.58, a PEG ratio of 3.57 and a beta of 0.97.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $848.75 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. The business’s revenue was up 20.6% on a year-over-year basis. Sell-side analysts forecast that Pinterest, Inc. will post 0.39 earnings per share for the current year.

Insider Activity at Pinterest

In other news, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total value of $168,795.50. Following the sale, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.90, for a total transaction of $168,795.50. Following the sale, the chief accounting officer now owns 189,470 shares in the company, valued at $8,317,733. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,689 shares of company stock valued at $1,628,002. 7.11% of the stock is owned by insiders.

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.