Winnow Wealth LLC Takes Position in Pinterest, Inc. $PINS

Winnow Wealth LLC bought a new stake in Pinterest, Inc. (NYSE:PINSFree Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,703 shares of the company’s stock, valued at approximately $815,000.

A number of other hedge funds also recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in Pinterest by 15.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,179 shares of the company’s stock worth $26,600,000 after purchasing an additional 110,089 shares in the last quarter. Renaissance Group LLC increased its holdings in shares of Pinterest by 4.5% during the second quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock worth $36,548,000 after purchasing an additional 43,541 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Pinterest by 243.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock valued at $2,490,000 after buying an additional 49,204 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Pinterest by 302.0% in the third quarter. SG Americas Securities LLC now owns 133,193 shares of the company’s stock valued at $4,285,000 after buying an additional 100,063 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its position in Pinterest by 101.4% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 206,903 shares of the company’s stock worth $6,652,000 after buying an additional 104,192 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Price Performance

PINS stock opened at $22.11 on Friday. The stock has a market cap of $14.94 billion, a price-to-earnings ratio of 7.68, a P/E/G ratio of 1.06 and a beta of 0.91. The company has a 50 day simple moving average of $26.03 and a 200 day simple moving average of $31.23. Pinterest, Inc. has a 1 year low of $21.83 and a 1 year high of $40.90.

Pinterest (NYSE:PINSGet Free Report) last posted its earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, insider Malik Ducard sold 2,293 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $26.18, for a total value of $60,030.74. Following the completion of the transaction, the insider owned 697,480 shares of the company’s stock, valued at $18,260,026.40. This represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $590,151.06. Following the completion of the transaction, the chief financial officer owned 540,358 shares of the company’s stock, valued at $13,973,657.88. This represents a 4.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 105,161 shares of company stock worth $2,796,466 in the last 90 days. Insiders own 7.06% of the company’s stock.

Key Pinterest News

Here are the key news stories impacting Pinterest this week:

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Citigroup restated a “buy” rating on shares of Pinterest in a research report on Wednesday, November 5th. UBS Group cut their price objective on shares of Pinterest from $48.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. Benchmark reduced their price objective on shares of Pinterest from $48.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, BMO Capital Markets dropped their target price on shares of Pinterest from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Check Out Our Latest Stock Report on Pinterest

About Pinterest

(Free Report)

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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