OLD National Bancorp IN Has $7.97 Million Holdings in Pinterest, Inc. $PINS

OLD National Bancorp IN decreased its position in shares of Pinterest, Inc. (NYSE:PINS) by 7.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 434,755 shares of the company’s stock after selling 36,843 shares during the period. OLD National Bancorp IN owned about 0.07% of Pinterest worth $7,973,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PINS. Elevated Capital Advisors LLC bought a new stake in shares of Pinterest during the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Pinterest by 2,017.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock valued at $29,000 after buying an additional 1,049 shares during the last quarter. Addison Advisors LLC raised its holdings in shares of Pinterest by 727.3% in the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock valued at $35,000 after buying an additional 1,200 shares during the last quarter. Garner Asset Management Corp acquired a new position in Pinterest during the 4th quarter worth about $36,000. Finally, MidFirst Bank bought a new stake in Pinterest during the 4th quarter worth about $44,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Trading Up 6.7%

NYSE:PINS opened at $20.79 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. The business’s 50-day simple moving average is $20.37 and its 200-day simple moving average is $21.21. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $39.93. The stock has a market capitalization of $11.65 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 1.11 and a beta of 0.92.

Pinterest (NYSE:PINS) last posted its earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.Pinterest’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS. Sell-side analysts expect that Pinterest, Inc. will post 0.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PINS. Evercore set a $27.00 price objective on shares of Pinterest in a research report on Tuesday, May 5th. TD Cowen reissued a “buy” rating on shares of Pinterest in a research note on Monday. Morgan Stanley boosted their target price on Pinterest from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Rothschild & Co Redburn set a $23.00 price target on Pinterest and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $26.00 price target (up from $21.00) on shares of Pinterest in a research note on Tuesday, May 5th. Sixteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Pinterest currently has an average rating of “Hold” and an average price target of $27.40.

Insider Activity

In related news, insider Wanjiku Juanita Walcott sold 27,337 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $20.46, for a total value of $559,315.02. Following the sale, the insider directly owned 724,673 shares of the company’s stock, valued at approximately $14,826,809.58. The trade was a 3.64% decrease in their position. The transaction was disclosed in a legal 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, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $19.99, for a total transaction of $937,031.25. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 232,195 shares of company stock worth $4,811,815 over the last quarter. 8.09% of the stock is currently owned by company insiders.

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.