259,441 Shares in Pinterest, Inc. $PINS Acquired by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC bought a new position in Pinterest, Inc. (NYSE:PINS) in the third quarter, Holdings Channel.com reports. The fund bought 259,441 shares of the company’s stock, valued at approximately $4,901,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its stake in shares of Pinterest by 96.5% in the 2nd quarter. QRG Capital Management Inc. now owns 42,014 shares of the company’s stock worth $884,000 after buying an additional 20,631 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Pinterest by 8.8% during the second quarter. Sequoia Financial Advisors LLC now owns 34,481 shares of the company’s stock worth $725,000 after acquiring an additional 2,793 shares during the period. Engineers Gate Manager LP grew its holdings in Pinterest by 89.7% during the second quarter. Engineers Gate Manager LP now owns 183,035 shares of the company’s stock worth $3,849,000 after acquiring an additional 86,560 shares during the period. NewEdge Advisors LLC raised its position in Pinterest by 15.0% in the second quarter. NewEdge Advisors LLC now owns 87,223 shares of the company’s stock worth $1,834,000 after acquiring an additional 11,382 shares in the last quarter. Finally, Allworth Financial LP raised its position in Pinterest by 8.7% in the second quarter. Allworth Financial LP now owns 16,941 shares of the company’s stock worth $356,000 after acquiring an additional 1,360 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Stock Up 3.9%

Shares of Pinterest stock traded up $0.80 on Friday, hitting $21.33. 4,971,024 shares of the company traded hands, compared to its average volume of 16,672,223. The company has a 50-day moving average price of $21.21 and a 200 day moving average price of $20.80. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.34. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $35.42. The company has a market cap of $11.95 billion, a PE ratio of 62.72, a PEG ratio of 1.33 and a beta of 0.90.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.07. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.Pinterest’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share. Sell-side analysts predict that Pinterest, Inc. will post 0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PINS shares. Morgan Stanley raised their price objective on shares of Pinterest from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Robert W. Baird increased their target price on shares of Pinterest from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada increased their target price on shares of Pinterest from $23.00 to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Barclays raised their target price on shares of Pinterest from $27.00 to $31.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings raised Pinterest from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Eighteen analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.90.

Insider Transactions at Pinterest

In other news, insider Wanjiku Walcott sold 14,103 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $18.21, for a total transaction of $256,815.63. Following the completion of the sale, the insider directly owned 658,902 shares of the company’s stock, valued at $11,998,605.42. This trade represents a 2.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $19.66, for a total value of $921,562.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 644,952 shares of company stock valued at $13,697,957 over the last 90 days. Company insiders own 8.09% of the company’s stock.

About Pinterest

Pinterest, Inc operates a visual discovery and planning platform that helps people find, save and organize ideas for projects, interests and everyday activities. Users can collect images, videos and other content as “Pins” and arrange them on personalized or collaborative boards. The platform supports discovery across areas such as home design, food, fashion, travel, beauty and do-it-yourself projects.

Pinterest also provides tools for businesses and creators, including visual advertising, shopping features, product catalogs and analytics.