Envestnet Portfolio Solutions Inc. Acquires 6,682 Shares of Pinterest, Inc. $PINS

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 56.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 18,507 shares of the company’s stock after acquiring an additional 6,682 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Pinterest were worth $664,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in PINS. Bartlett & CO. Wealth Management LLC bought a new position in Pinterest during the first quarter worth about $25,000. Garde Capital Inc. bought a new stake in shares of Pinterest in the 1st quarter valued at approximately $26,000. West Branch Capital LLC acquired a new position in shares of Pinterest in the 2nd quarter worth approximately $36,000. Golden State Wealth Management LLC lifted its position in shares of Pinterest by 665.4% during the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company’s stock worth $38,000 after buying an additional 1,058 shares during the period. Finally, Mather Group LLC. boosted its stake in Pinterest by 133.5% in the 1st quarter. Mather Group LLC. now owns 1,310 shares of the company’s stock valued at $41,000 after buying an additional 749 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PINS. Susquehanna reiterated a “positive” rating and set a $42.00 price objective on shares of Pinterest in a research note on Friday, August 8th. Mizuho initiated coverage on shares of Pinterest in a research report on Monday, September 29th. They set an “outperform” rating and a $50.00 target price for the company. Guggenheim reissued a “buy” rating on shares of Pinterest in a report on Tuesday, September 2nd. Cowen reaffirmed a “buy” rating on shares of Pinterest in a research note on Friday, August 8th. Finally, Piper Sandler set a $40.00 target price on shares of Pinterest in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.67.

Pinterest Trading Up 1.6%

PINS opened at $32.90 on Tuesday. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The stock has a market capitalization of $22.37 billion, a PE ratio of 11.79, a PEG ratio of 1.36 and a beta of 0.81. The firm has a 50-day moving average price of $34.67 and a two-hundred day moving average price of $33.24.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The business had revenue of $665.93 million for the quarter. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. On average, research analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the completion of the sale, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. This trade represents a 6.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,759 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $34.96, for a total value of $131,414.64. Following the sale, the chief accounting officer owned 157,402 shares of the company’s stock, valued at approximately $5,502,773.92. The trade was a 2.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 742,319 shares of company stock valued at $26,752,376 over the last 90 days. 7.11% of the stock is currently owned by corporate insiders.

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.