Westfield Capital Management Co. LP Increases Holdings in Pinterest, Inc. $PINS

Westfield Capital Management Co. LP increased its position in shares of Pinterest, Inc. (NYSE:PINS) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,023,270 shares of the company’s stock after purchasing an additional 37,177 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Pinterest were worth $65,089,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its position in Pinterest by 282.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after buying an additional 506 shares during the last quarter. N.E.W. Advisory Services LLC increased its stake in shares of Pinterest by 505.7% in the third quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock worth $27,000 after acquiring an additional 713 shares during the period. Atlantic Union Bankshares Corp raised its holdings in shares of Pinterest by 3,839.1% during the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after purchasing an additional 883 shares during the last quarter. Wellington Shields Capital Management LLC acquired a new position in Pinterest during the second quarter valued at $40,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Pinterest by 46.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company’s stock valued at $42,000 after purchasing an additional 419 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Pinterest stock opened at $17.81 on Friday. The stock has a market capitalization of $11.85 billion, a P/E ratio of 29.20, a P/E/G ratio of 1.24 and a beta of 0.92. The company’s fifty day moving average price is $22.92 and its 200 day moving average price is $28.64. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.01). Pinterest had a net margin of 9.87% and a return on equity of 7.95%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the business earned $0.56 earnings per share. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. Sell-side analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Ratings Changes

PINS has been the subject of a number of recent research reports. Zacks Research upgraded Pinterest from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Royal Bank Of Canada cut Pinterest from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $38.00 to $17.00 in a research report on Friday, February 13th. The Goldman Sachs Group restated a “buy” rating and issued a $23.00 price objective on shares of Pinterest in a research report on Friday, February 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $20.00 price objective (down from $36.00) on shares of Pinterest in a research note on Friday, February 13th. Finally, BMO Capital Markets set a $28.00 target price on shares of Pinterest and gave the company an “outperform” rating in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eighteen have assigned a Hold rating to the company. Based on data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and an average price target of $25.87.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total value of $590,151.06. Following the sale, the chief financial officer directly owned 540,358 shares in the company, valued at approximately $13,973,657.88. The trade was a 4.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Malik Ducard sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total value of $155,160.00. Following the sale, the insider owned 699,773 shares of the company’s stock, valued at approximately $18,096,129.78. This trade represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,407 shares of company stock worth $855,925 over the last ninety days. 7.06% of the stock is currently owned by corporate insiders.

About Pinterest

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.