Intrust Bank NA Takes $302,000 Position in Pinterest, Inc. $PINS

Intrust Bank NA purchased a new stake in Pinterest, Inc. (NYSE:PINS) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,421 shares of the company’s stock, valued at approximately $302,000.

A number of other large investors also recently added to or reduced their stakes in PINS. Nomura Asset Management Co. Ltd. grew its position in shares of Pinterest by 8.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 187,355 shares of the company’s stock valued at $6,719,000 after purchasing an additional 15,178 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Pinterest by 20.8% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 330,515 shares of the company’s stock valued at $11,852,000 after buying an additional 56,804 shares in the last quarter. Westpac Banking Corp boosted its holdings in Pinterest by 31.5% in the 2nd quarter. Westpac Banking Corp now owns 26,360 shares of the company’s stock worth $945,000 after buying an additional 6,312 shares during the last quarter. Integrated Quantitative Investments LLC purchased a new stake in Pinterest during the 2nd quarter worth approximately $878,000. Finally, Western Wealth Management LLC acquired a new position in shares of Pinterest during the second quarter valued at approximately $438,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Barclays lowered their price target on Pinterest from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Oppenheimer restated an “outperform” rating on shares of Pinterest in a report on Friday, August 8th. Piper Sandler reaffirmed a “neutral” rating and set a $33.00 target price (down previously from $35.00) on shares of Pinterest in a report on Wednesday, November 5th. Rosenblatt Securities reiterated a “neutral” rating and issued a $30.00 target price (down from $49.00) on shares of Pinterest in a research report on Wednesday, November 5th. Finally, Stifel Nicolaus boosted their price target on shares of Pinterest from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and an average target price of $39.55.

Insiders Place Their Bets

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total value 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. This trade represents a 6.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 611,050 shares of company stock worth $21,260,379 in the last three months. 7.11% of the stock is owned by insiders.

Pinterest Price Performance

Shares of PINS stock opened at $25.85 on Wednesday. The company has a market capitalization of $17.46 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 1.55 and a beta of 0.96. The firm’s 50-day moving average is $32.11 and its two-hundred day moving average is $33.94. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The business had revenue of $665.93 million during the quarter. Sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Pinterest 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.