Allstate Corp Takes Position in Pinterest, Inc. (NYSE:PINS)

Allstate Corp bought a new stake in shares of Pinterest, Inc. (NYSE:PINS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 17,639 shares of the company’s stock, valued at approximately $512,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Hantz Financial Services Inc. lifted its stake in Pinterest by 3.7% in the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after purchasing an additional 339 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Pinterest by 2.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock worth $366,000 after acquiring an additional 342 shares during the last quarter. Ethos Financial Group LLC boosted its holdings in Pinterest by 3.1% during the 4th quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock valued at $342,000 after acquiring an additional 350 shares during the period. Amalgamated Bank grew its position in Pinterest by 0.9% in the 4th quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock valued at $1,154,000 after acquiring an additional 372 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Price Performance

Shares of PINS opened at $31.02 on Wednesday. The company’s fifty day moving average price is $34.65 and its 200-day moving average price is $32.44. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The firm has a market capitalization of $21.04 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PINS has been the topic of a number of research analyst reports. Oppenheimer upped their price target on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Guggenheim reaffirmed a “buy” rating on shares of Pinterest in a research report on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price target (down previously from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Roth Capital set a $32.00 price objective on Pinterest in a report on Monday, February 3rd. Finally, Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $34.00 to $47.00 in a report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Insider Buying and Selling

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the sale, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the transaction, the director now directly owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,753 shares of company stock worth $11,640,201. 7.11% of the stock is owned by company 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.