NewEdge Wealth LLC Has $7.43 Million Stock Position in Pinterest, Inc. $PINS

NewEdge Wealth LLC trimmed its position in Pinterest, Inc. (NYSE:PINS) by 19.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,792 shares of the company’s stock after selling 55,886 shares during the quarter. NewEdge Wealth LLC’s holdings in Pinterest were worth $7,425,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PINS. Golden State Wealth Management LLC grew its stake in Pinterest by 282.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after acquiring an additional 506 shares in the last quarter. N.E.W. Advisory Services LLC increased its position in Pinterest by 505.7% during the third 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 during the last quarter. Atlantic Union Bankshares Corp increased its holdings in shares of Pinterest by 3,839.1% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock valued at $29,000 after acquiring an additional 883 shares during the last quarter. Wellington Shields Capital Management LLC bought a new position in shares of Pinterest in the second quarter valued at approximately $40,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Pinterest by 46.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company’s stock worth $42,000 after acquiring an additional 419 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Trading Up 2.4%

PINS stock opened at $16.78 on Friday. The firm has a market capitalization of $11.33 billion, a PE ratio of 27.50, a PEG ratio of 0.86 and a beta of 0.92. The business’s 50 day simple moving average is $23.78 and its 200 day simple moving average is $29.37. Pinterest, Inc. has a 1-year low of $13.84 and a 1-year high of $39.93.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 EPS. As a group, sell-side analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Roth Mkm cut their target price on Pinterest from $34.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Barclays lowered their price target on Pinterest from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, February 13th. Weiss Ratings restated a “hold (c)” rating on shares of Pinterest in a research report on Monday, December 29th. Monness Crespi & Hardt downgraded shares of Pinterest from a “buy” rating to a “neutral” rating in a report on Wednesday, November 5th. Finally, BMO Capital Markets set a $28.00 price target on Pinterest and gave the company an “outperform” rating in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eighteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.87.

Insider Buying and Selling at Pinterest

In other Pinterest news, insider Malik Ducard sold 2,293 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $22.06, for a total value of $50,583.58. Following the transaction, the insider directly owned 695,187 shares of the company’s stock, valued at $15,335,825.22. This represents a 0.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total value of $590,151.06. Following the sale, the chief financial officer directly owned 540,358 shares of the company’s stock, valued at $13,973,657.88. This represents a 4.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 33,407 shares of company stock valued at $855,925 over the last 90 days. 7.06% of the stock is currently owned by corporate insiders.

Pinterest Company 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.