Fourth Dimension Wealth LLC Raises Stock Position in Pinterest, Inc. $PINS

Fourth Dimension Wealth LLC grew its stake in shares of Pinterest, Inc. (NYSE:PINS) by 44.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,363 shares of the company’s stock after acquiring an additional 1,639 shares during the period. Fourth Dimension Wealth LLC’s holdings in Pinterest were worth $192,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. West Branch Capital LLC acquired a new stake in shares of Pinterest during the 2nd quarter valued at approximately $36,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Pinterest during the 2nd quarter valued at approximately $40,000. LRI Investments LLC lifted its position in shares of Pinterest by 97.7% during the 1st quarter. LRI Investments LLC now owns 1,374 shares of the company’s stock valued at $43,000 after acquiring an additional 679 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Pinterest by 138.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,586 shares of the company’s stock valued at $57,000 after acquiring an additional 922 shares during the period. Finally, Whittier Trust Co. lifted its position in shares of Pinterest by 798.4% during the 1st quarter. Whittier Trust Co. now owns 1,707 shares of the company’s stock valued at $53,000 after acquiring an additional 1,517 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Price Performance

Shares of PINS opened at $32.88 on Wednesday. The firm has a 50 day simple moving average of $34.19 and a 200-day simple moving average of $33.87. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The stock has a market cap of $22.36 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The business had revenue of $665.93 million during the quarter. On average, equities analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Citigroup reiterated a “buy” rating and set a $50.00 price target (up from $44.00) on shares of Pinterest in a research report on Friday, August 8th. KeyCorp lifted their price target on shares of Pinterest from $40.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Benchmark lifted their price target on shares of Pinterest from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Stifel Nicolaus raised their price objective on shares of Pinterest from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Finally, Guggenheim reissued a “buy” rating on shares of Pinterest in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.67.

Insiders Place Their Bets

In other Pinterest news, CAO Andrea Acosta sold 3,759 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $34.96, for a total value of $131,414.64. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total value of $795,311.85. Following the completion of the transaction, the chief financial officer owned 312,422 shares of the company’s stock, valued at $10,887,906.70. This trade represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 640,236 shares of company stock valued at $22,878,326. Insiders own 7.11% of the company’s stock.

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.