Howe & Rusling Inc. Acquires 31,346 Shares of Pinterest, Inc. $PINS

Howe & Rusling Inc. raised its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 17.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 213,001 shares of the company’s stock after purchasing an additional 31,346 shares during the quarter. Howe & Rusling Inc.’s holdings in Pinterest were worth $5,515,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PINS. Elevated Capital Advisors LLC bought a new stake in shares of Pinterest during the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Pinterest by 2,017.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after purchasing an additional 1,049 shares during the last quarter. Addison Advisors LLC lifted its position in shares of Pinterest by 727.3% during the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after purchasing an additional 1,200 shares during the last quarter. Garner Asset Management Corp bought a new stake in shares of Pinterest during the fourth quarter worth $36,000. Finally, Fifth Third Bancorp raised its holdings in shares of Pinterest by 2,409.1% in the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock valued at $44,000 after acquiring an additional 1,325 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PINS has been the subject of several recent research reports. Argus downgraded Pinterest from a “buy” rating to a “hold” rating in a report on Monday, March 2nd. Morgan Stanley lifted their price objective on Pinterest from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Robert W. Baird lifted their price objective on Pinterest from $20.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. UBS Group lifted their price objective on Pinterest from $29.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Benchmark decreased their price objective on Pinterest from $34.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.40.

Pinterest Stock Performance

PINS stock opened at $21.18 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. The business has a 50-day moving average price of $20.11 and a 200 day moving average price of $21.55. The company has a market capitalization of $11.86 billion, a P/E ratio of 44.12, a PEG ratio of 1.15 and a beta of 0.92. Pinterest, Inc. has a 1-year low of $13.84 and a 1-year high of $39.93.

Pinterest (NYSE:PINS) last announced its earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The firm’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. As a group, equities research analysts forecast that Pinterest, Inc. will post 0.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pinterest news, insider Wanjiku Juanita Walcott sold 27,337 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $20.46, for a total value of $559,315.02. Following the completion of the transaction, the insider directly owned 724,673 shares in the company, valued at approximately $14,826,809.58. The trade was a 3.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gokul Rajaram sold 2,100 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the completion of the transaction, the director owned 27,450 shares of the company’s stock, valued at $549,000. This represents a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 124,237 shares of company stock worth $2,604,190. 8.09% of the stock is owned by corporate insiders.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.