Probity Advisors Inc. Purchases 779 Shares of Pinterest, Inc. $PINS

Probity Advisors Inc. grew its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 6.1% in the second quarter, Holdings Channel.com reports. The firm owned 13,631 shares of the company’s stock after buying an additional 779 shares during the period. Probity Advisors Inc.’s holdings in Pinterest were worth $489,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In other news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total transaction of $3,558,613.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $795,311.85. Following the completion of the transaction, the chief financial officer directly owned 312,422 shares in the company, valued at approximately $10,887,906.70. The trade was a 6.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 742,319 shares of company stock worth $26,752,376. Insiders own 7.11% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PINS. Wall Street Zen cut shares of Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Sanford C. Bernstein boosted their price target on shares of Pinterest from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Citigroup reiterated a “buy” rating and issued a $50.00 price objective (up previously from $44.00) on shares of Pinterest in a research report on Friday, August 8th. Stifel Nicolaus boosted their target price on Pinterest from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, Susquehanna restated a “positive” rating and issued a $42.00 target price on shares of Pinterest in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.67.

Pinterest Stock Performance

PINS stock opened at $32.90 on Tuesday. The company has a market capitalization of $22.37 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.36 and a beta of 0.81. Pinterest, Inc. has a one year low of $23.68 and a one year high of $40.90. The company’s 50 day moving average price is $34.67 and its two-hundred day moving average price is $33.24.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The company 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.

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.