Clearwater Capital Advisors LLC Makes New Investment in Pinterest, Inc. (NYSE:PINS)

Clearwater Capital Advisors LLC purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,034 shares of the company’s stock, valued at approximately $335,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cambridge Investment Research Advisors Inc. grew its stake in Pinterest by 5.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,809 shares of the company’s stock worth $1,157,000 after purchasing an additional 2,247 shares in the last quarter. Raymond James & Associates increased its stake in shares of Pinterest by 28.8% during the third quarter. Raymond James & Associates now owns 488,012 shares of the company’s stock worth $13,191,000 after buying an additional 109,223 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Pinterest by 31.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 112,753 shares of the company’s stock valued at $3,048,000 after acquiring an additional 27,087 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Pinterest by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 2,484,116 shares of the company’s stock valued at $67,146,000 after acquiring an additional 39,431 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Pinterest by 9.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 109,903 shares of the company’s stock worth $2,971,000 after acquiring an additional 9,689 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Activity at Pinterest

In other news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $36.65, for a total transaction of $733,000.00. Following the transaction, the director now directly owns 54,215 shares of the company’s stock, valued at approximately $1,986,979.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the transaction, the insider now owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The disclosure for this sale can be found here. Insiders have sold a total of 164,471 shares of company stock worth $5,773,431 in the last three months. Insiders own 7.11% of the company’s stock.

Pinterest Stock Down 0.3 %

PINS traded down $0.14 on Thursday, hitting $42.50. 3,633,838 shares of the company traded hands, compared to its average volume of 10,157,727. Pinterest, Inc. has a 12-month low of $21.02 and a 12-month high of $42.85. The company has a 50 day moving average of $35.16 and a 200-day moving average of $34.91. The stock has a market capitalization of $29.03 billion, a PE ratio of 202.38, a PEG ratio of 4.02 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The business had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. On average, research analysts anticipate that Pinterest, Inc. will post 0.43 EPS for the current year.

Analyst Ratings Changes

PINS has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price objective on shares of Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Evercore ISI raised their price target on Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Piper Sandler upped their price objective on Pinterest from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Royal Bank of Canada increased their price objective on Pinterest from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, Roth Mkm boosted their target price on Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.26.

Pinterest Profile

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.