Cornercap Investment Counsel Inc. Buys New Shares in Pinterest, Inc. (NYSE:PINS)

Cornercap Investment Counsel Inc. bought a new stake in Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 22,444 shares of the company’s stock, valued at approximately $831,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PINS. Cohanzick Management LLC acquired a new stake in Pinterest in the first quarter valued at $25,000. Washington Trust Advisors Inc. increased its position in shares of Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares in the last quarter. Clear Street Markets LLC acquired a new stake in shares of Pinterest during the third quarter worth about $41,000. Blue Trust Inc. increased its position in shares of Pinterest by 87.7% during the fourth quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock worth $44,000 after purchasing an additional 557 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC increased its position in shares of Pinterest by 5,138.9% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,886 shares of the company’s stock worth $46,000 after purchasing an additional 1,850 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on PINS. Susquehanna lifted their target price on Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. Argus raised Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Thursday, January 18th. Stifel Nicolaus upped their price objective on Pinterest from $26.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Roth Mkm upped their price objective on Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada upped their price objective on Pinterest from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.97.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $36.52, for a total value of $70,629.68. Following the transaction, the director now directly owns 37,448 shares of the company’s stock, valued at approximately $1,367,600.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the sale, the chief financial officer now directly owns 392,829 shares in the company, valued at $13,521,174.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $36.52, for a total value of $70,629.68. Following the sale, the director now owns 37,448 shares of the company’s stock, valued at $1,367,600.96. The disclosure for this sale can be found here. Insiders have sold a total of 184,471 shares of company stock valued at $6,531,381 in the last quarter. 6.85% of the stock is currently owned by company insiders.

Pinterest Stock Down 2.9 %

PINS stock opened at $32.58 on Tuesday. Pinterest, Inc. has a 1 year low of $20.60 and a 1 year high of $41.60. The stock’s 50 day moving average price is $35.50 and its 200 day moving average price is $33.87.

Pinterest (NYSE:PINS) last issued 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 positive return on equity of 3.83% and a negative net margin of 1.17%. The company had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. On average, research analysts expect that Pinterest, Inc. will post 0.36 earnings per share for the current fiscal year.

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.