Huntington National Bank Purchases 1,680 Shares of Pinterest, Inc. (NYSE:PINS)

Huntington National Bank lifted its position in Pinterest, Inc. (NYSE:PINS) by 484.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,027 shares of the company’s stock after purchasing an additional 1,680 shares during the quarter. Huntington National Bank’s holdings in Pinterest were worth $59,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its stake in Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after buying an additional 156,748 shares in the last quarter. Norges Bank bought a new stake in shares of Pinterest in the 4th quarter worth about $358,205,000. Geode Capital Management LLC increased its position in shares of Pinterest by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 9,648,352 shares of the company’s stock worth $279,281,000 after purchasing an additional 181,767 shares in the last quarter. Ninety One UK Ltd lifted its holdings in Pinterest by 5.4% during the 4th quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock valued at $158,677,000 after purchasing an additional 278,362 shares during the last quarter. Finally, ARK Investment Management LLC increased its holdings in shares of Pinterest by 0.4% during the fourth quarter. ARK Investment Management LLC now owns 4,386,546 shares of the company’s stock worth $127,210,000 after buying an additional 17,997 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PINS has been the topic of several recent analyst reports. Benchmark raised Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Friday, February 7th. Morgan Stanley raised their target price on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Wells Fargo & Company decreased their price objective on shares of Pinterest from $47.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. The Goldman Sachs Group boosted their target price on shares of Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Rosenblatt Securities increased their price target on shares of Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Pinterest Price Performance

NYSE:PINS opened at $25.31 on Tuesday. The business’s 50-day simple moving average is $34.23 and its 200-day simple moving average is $32.38. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The stock has a market capitalization of $17.16 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99.

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

Insider Buying and Selling

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the transaction, the insider now owns 254,211 shares in the company, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 453,836 shares of company stock valued at $14,832,336. Company insiders own 7.11% of the company’s stock.

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.