432,760 Shares in Pinterest, Inc. $PINS Purchased by Weiss Asset Management LP

Weiss Asset Management LP purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 432,760 shares of the company’s stock, valued at approximately $7,937,000. Weiss Asset Management LP owned about 0.08% of Pinterest as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Elevated Capital Advisors LLC bought a new stake in Pinterest in the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Pinterest by 2,017.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock valued at $29,000 after purchasing an additional 1,049 shares during the last quarter. Addison Advisors LLC increased its holdings in shares of Pinterest by 727.3% in the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock valued at $35,000 after purchasing an additional 1,200 shares during the last quarter. Garner Asset Management Corp bought a new position in shares of Pinterest in the fourth quarter valued at about $36,000. Finally, MidFirst Bank bought a new position in shares of Pinterest in the fourth quarter valued at about $44,000. Institutional investors own 88.81% of the company’s stock.

Analyst Ratings Changes

PINS has been the subject of a number of research reports. Benchmark cut their target price on shares of Pinterest from $34.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Citigroup increased their price target on shares of Pinterest from $19.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. DA Davidson assumed coverage on shares of Pinterest in a research report on Wednesday, July 8th. They set a “buy” rating and a $26.00 price objective for the company. Barclays boosted their price objective on Pinterest from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Finally, Rothschild & Co Redburn set a $23.00 target price on Pinterest and gave the company a “neutral” rating in a research report on Monday, April 27th. Seventeen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $27.69.

Pinterest Trading Up 1.3%

Shares of Pinterest stock opened at $22.18 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The firm has a 50-day moving average of $21.20 and a 200-day moving average of $20.68. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93. The stock has a market cap of $12.43 billion, a PE ratio of 46.22, a PEG ratio of 1.26 and a beta of 0.89.

Pinterest (NYSE:PINS) last released its quarterly 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. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. During the same period last year, the firm earned $0.23 earnings per share. Pinterest’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Pinterest, Inc. will post 0.65 EPS for the current year.

Insider Buying and Selling

In other Pinterest news, Director Benjamin Silbermann sold 46,875 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $22.63, for a total transaction of $1,060,781.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $20.46, for a total transaction of $559,315.02. Following the transaction, the insider directly owned 724,673 shares in the company, valued at $14,826,809.58. This represents a 3.64% 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. In the last 90 days, insiders have sold 323,845 shares of company stock worth $6,836,065. Company insiders own 8.09% of the company’s stock.

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.