59,468 Shares in Pinterest, Inc. (NYSE:PINS) Bought by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division bought a new position in shares of Pinterest, Inc. (NYSE:PINS) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 59,468 shares of the company’s stock, valued at approximately $1,844,000.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new position in Pinterest in the fourth quarter valued at $28,000. Strategic Investment Solutions Inc. IL increased its holdings in Pinterest by 401.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after buying an additional 1,204 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in Pinterest by 51.5% in the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after buying an additional 590 shares in the last quarter. Huntington National Bank increased its holdings in Pinterest by 484.1% in the fourth quarter. Huntington National Bank now owns 2,027 shares of the company’s stock valued at $59,000 after buying an additional 1,680 shares in the last quarter. Finally, CoreCap Advisors LLC increased its holdings in Pinterest by 98.5% in the fourth quarter. CoreCap Advisors LLC now owns 2,096 shares of the company’s stock valued at $61,000 after buying an additional 1,040 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Trading Down 1.3%

Shares of NYSE PINS opened at $31.03 on Friday. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $45.19. The stock has a market cap of $21.05 billion, a PE ratio of 11.54, a P/E/G ratio of 1.95 and a beta of 0.83. The company has a 50-day moving average of $28.70 and a 200 day moving average of $31.19.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 earnings per share. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 38,596 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $34.27, for a total value of $1,322,684.92. Following the transaction, the chief financial officer now directly owns 231,879 shares in the company, valued at approximately $7,946,493.33. This represents a 14.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Andrea Acosta sold 3,941 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $35.75, for a total transaction of $140,890.75. Following the completion of the transaction, the chief accounting officer now owns 144,129 shares in the company, valued at approximately $5,152,611.75. This represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,066,426 shares of company stock worth $34,835,253 in the last ninety days. 7.06% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Rosenblatt Securities lifted their price objective on shares of Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 7th. Wolfe Research raised shares of Pinterest from a “peer perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Thursday, May 15th. Stifel Nicolaus cut their price objective on shares of Pinterest from $50.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. UBS Group cut their target price on shares of Pinterest from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Wells Fargo & Company cut their target price on shares of Pinterest from $47.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.26.

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.