Atria Wealth Solutions Inc. Purchases Shares of 8,069 Pinterest, Inc. $PINS

Atria Wealth Solutions Inc. purchased a new stake in shares of Pinterest, Inc. (NYSE:PINS) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,069 shares of the company’s stock, valued at approximately $289,000.

A number of other hedge funds have also bought and sold shares of PINS. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Pinterest in the first quarter worth $25,000. West Branch Capital LLC purchased a new stake in Pinterest during the second quarter worth $36,000. Golden State Wealth Management LLC grew its position in shares of Pinterest by 665.4% in the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company’s stock valued at $38,000 after purchasing an additional 1,058 shares during the period. Mather Group LLC. grew its position in shares of Pinterest by 133.5% in the first quarter. Mather Group LLC. now owns 1,310 shares of the company’s stock valued at $41,000 after purchasing an additional 749 shares during the period. Finally, LRI Investments LLC boosted its position in Pinterest by 97.7% during the first quarter. LRI Investments LLC now owns 1,374 shares of the company’s stock worth $43,000 after acquiring an additional 679 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analyst Ratings Changes

PINS has been the topic of a number of recent research reports. Bank of America boosted their price target on shares of Pinterest from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. TD Cowen raised their price target on shares of Pinterest from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, July 15th. Susquehanna reissued a “positive” rating and issued a $42.00 price target on shares of Pinterest in a research note on Friday, August 8th. Barclays boosted their price target on shares of Pinterest from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 8th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Pinterest in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.67.

Pinterest Stock Up 2.7%

NYSE PINS opened at $33.79 on Wednesday. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $40.90. The stock has a market capitalization of $22.97 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.38 and a beta of 0.81. The firm has a 50 day moving average of $34.65 and a two-hundred day moving average of $33.24.

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

Insider Activity at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total value of $3,558,613.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,759 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $34.96, for a total transaction of $131,414.64. Following the completion of the transaction, the chief accounting officer owned 157,402 shares of the company’s stock, valued at approximately $5,502,773.92. The trade was a 2.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 640,236 shares of company stock worth $22,878,326. Corporate 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.