BTC Capital Management Inc. Invests $5.98 Million in Pinterest, Inc. $PINS

BTC Capital Management Inc. purchased a new position in shares of Pinterest, Inc. (NYSE:PINSFree Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 185,977 shares of the company’s stock, valued at approximately $5,983,000.

Several other large investors have also recently added to or reduced their stakes in PINS. Golden State Wealth Management LLC boosted its holdings in Pinterest by 282.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after purchasing an additional 506 shares in the last quarter. N.E.W. Advisory Services LLC raised its stake in shares of Pinterest by 505.7% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock worth $27,000 after buying an additional 713 shares in the last quarter. Atlantic Union Bankshares Corp lifted its holdings in shares of Pinterest by 3,839.1% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock valued at $29,000 after buying an additional 883 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in shares of Pinterest in the second quarter valued at approximately $40,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Pinterest in the second quarter valued at approximately $45,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $590,151.06. Following the transaction, the chief financial officer owned 540,358 shares of the company’s stock, valued at approximately $13,973,657.88. This represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Malik Ducard sold 2,293 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $22.06, for a total transaction of $50,583.58. Following the sale, the insider owned 695,187 shares in the company, valued at approximately $15,335,825.22. This trade represents a 0.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,407 shares of company stock worth $855,925 over the last ninety days. 7.06% of the stock is owned by corporate insiders.

Trending Headlines about Pinterest

Here are the key news stories impacting Pinterest this week:

Pinterest Stock Performance

Pinterest stock opened at $15.40 on Friday. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $39.93. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 0.81 and a beta of 0.92. The stock has a fifty day moving average of $24.68 and a two-hundred day moving average of $29.98.

Pinterest (NYSE:PINSGet Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.01). The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Pinterest had a net margin of 9.87% and a return on equity of 7.93%. The firm’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.56 earnings per share. On average, analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PINS shares. Citigroup cut Pinterest from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $38.00 to $19.00 in a research report on Friday. Mizuho set a $35.00 price target on shares of Pinterest in a research note on Tuesday, February 3rd. Evercore ISI set a $25.00 price objective on shares of Pinterest and gave the company an “in-line” rating in a research note on Friday. Benchmark decreased their price objective on shares of Pinterest from $39.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, UBS Group set a $26.00 target price on shares of Pinterest in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eighteen have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $26.31.

Check Out Our Latest Stock Analysis on Pinterest

Pinterest Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

Receive News & Ratings for Pinterest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinterest and related companies with MarketBeat.com's FREE daily email newsletter.