Western Wealth Management LLC Acquires New Stake in Pinterest, Inc. $PINS

Western Wealth Management LLC bought a new position in Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,220 shares of the company’s stock, valued at approximately $438,000.

A number of other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC lifted its stake in shares of Pinterest by 282.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after purchasing an additional 506 shares during the period. West Branch Capital LLC purchased a new stake in Pinterest during the second quarter valued at approximately $36,000. Wellington Shields Capital Management LLC bought a new position in Pinterest in the second quarter worth approximately $40,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Pinterest by 138.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,586 shares of the company’s stock worth $57,000 after acquiring an additional 922 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Pinterest during the 1st quarter valued at $56,000. 88.81% of the stock is currently owned by institutional investors.

Pinterest Stock Up 1.3%

NYSE PINS opened at $25.85 on Wednesday. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $40.90. The business has a 50-day moving average price of $32.11 and a 200-day moving average price of $33.94. The firm has a market cap of $17.46 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 1.55 and a beta of 0.96.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The company had revenue of $665.93 million for the quarter. Research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PINS. Cowen reaffirmed a “buy” rating on shares of Pinterest in a report on Friday, August 8th. Piper Sandler restated a “neutral” rating and issued a $33.00 price target (down previously from $35.00) on shares of Pinterest in a research report on Wednesday, November 5th. Guggenheim lowered their price objective on Pinterest from $44.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Bank of America cut their price objective on Pinterest from $44.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Susquehanna restated a “positive” rating and set a $42.00 target price on shares of Pinterest in a research note 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 data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and an average target price of $39.55.

Insider Activity at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total transaction of $3,558,613.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total transaction of $795,311.85. Following the transaction, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at $10,887,906.70. The trade was a 6.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 611,050 shares of company stock worth $21,260,379 over the last ninety days. 7.11% of the stock is 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.