Howe & Rusling Inc. Grows Position in Pinterest, Inc. $PINS

Howe & Rusling Inc. grew its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,647 shares of the company’s stock after acquiring an additional 8,318 shares during the quarter. Howe & Rusling Inc.’s holdings in Pinterest were worth $6,550,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PINS. Amundi lifted its position in Pinterest by 618.9% during the first quarter. Amundi now owns 14,254,741 shares of the company’s stock valued at $441,897,000 after purchasing an additional 12,271,958 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Pinterest by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock valued at $988,662,000 after buying an additional 6,460,143 shares in the last quarter. Swedbank AB lifted its holdings in shares of Pinterest by 344.0% during the 1st quarter. Swedbank AB now owns 5,839,485 shares of the company’s stock worth $181,024,000 after acquiring an additional 4,524,433 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Pinterest by 4,673.9% during the 1st quarter. Pacer Advisors Inc. now owns 2,531,741 shares of the company’s stock worth $78,484,000 after acquiring an additional 2,478,708 shares during the last quarter. Finally, Congress Asset Management Co. purchased a new position in Pinterest in the second quarter worth $82,516,000. 88.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Wanjiku Juanita Walcott sold 74,047 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the sale, the insider owned 301,214 shares of the company’s stock, valued at $8,099,644.46. This trade represents a 19.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Andrea Acosta sold 3,759 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $34.96, for a total transaction of $131,414.64. Following the transaction, the chief accounting officer directly owned 157,402 shares in the company, valued at approximately $5,502,773.92. The trade was a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 611,050 shares of company stock valued at $21,260,379 in the last 90 days. 7.06% of the stock is owned by corporate insiders.

Pinterest Trading Down 1.3%

PINS stock opened at $25.45 on Thursday. The stock has a market capitalization of $17.19 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 1.56 and a beta of 0.96. The firm’s 50-day moving average price is $31.91 and its two-hundred day moving average price is $33.88. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (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. Equities analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Stifel Nicolaus raised their price target on Pinterest from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Royal Bank Of Canada reduced their price objective on Pinterest from $45.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Sanford C. Bernstein dropped their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. JPMorgan Chase & Co. cut their target price on Pinterest from $44.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Finally, Guggenheim decreased their price target on shares of Pinterest from $44.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.55.

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.