Corient Private Wealth LLC Boosts Holdings in Pinterest, Inc. $PINS

Corient Private Wealth LLC raised its holdings in Pinterest, Inc. (NYSE:PINS) by 67.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,647 shares of the company’s stock after buying an additional 51,181 shares during the quarter. Corient Private Wealth LLC’s holdings in Pinterest were worth $3,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Snowden Capital Advisors LLC boosted its position in shares of Pinterest by 4.4% in the second quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock worth $253,000 after acquiring an additional 296 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Pinterest by 3.9% in the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock valued at $340,000 after purchasing an additional 358 shares during the period. Central Pacific Bank Trust Division increased its position in Pinterest by 0.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 95,960 shares of the company’s stock worth $2,484,000 after purchasing an additional 464 shares during the last quarter. Simon Quick Advisors LLC increased its position in Pinterest by 5.5% during the fourth quarter. Simon Quick Advisors LLC now owns 10,237 shares of the company’s stock worth $265,000 after purchasing an additional 535 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Pinterest by 2.2% during the fourth quarter. CIBC Asset Management Inc now owns 26,434 shares of the company’s stock worth $684,000 after purchasing an additional 560 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

PINS has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of Pinterest from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Rosenblatt Securities upped their price objective on Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $24.00 target price on shares of Pinterest in a research report on Tuesday, May 5th. Piper Sandler reiterated a “neutral” rating and issued a $26.00 target price (up from $21.00) on shares of Pinterest in a report on Tuesday, May 5th. Finally, Guggenheim reissued a “buy” rating and set a $24.00 price target on shares of Pinterest in a research report on Monday, June 15th. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Pinterest presently has an average rating of “Hold” and an average price target of $27.40.

Insider Activity

In related news, Director Benjamin Silbermann sold 46,875 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $19.99, for a total transaction of $937,031.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 14,208 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $19.65, for a total value of $279,187.20. Following the sale, the insider owned 691,840 shares in the company, valued at approximately $13,594,656. The trade was a 2.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 232,195 shares of company stock worth $4,811,815. 8.09% of the stock is currently owned by corporate insiders.

Pinterest Stock Up 6.7%

Shares of Pinterest stock opened at $20.79 on Friday. Pinterest, Inc. has a twelve month low of $13.84 and a twelve month high of $39.93. The stock has a market cap of $11.65 billion, a price-to-earnings ratio of 43.31, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average price of $20.37 and a 200 day moving average price of $21.21.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the company posted $0.23 earnings per share. Equities research analysts forecast that Pinterest, Inc. will post 0.65 earnings per share for the current fiscal year.

Pinterest Profile

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.