GDS Wealth Management Purchases 83,740 Shares of Pinterest, Inc. $PINS

GDS Wealth Management increased its position in shares of Pinterest, Inc. (NYSE:PINS) by 45.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 265,984 shares of the company’s stock after purchasing an additional 83,740 shares during the period. GDS Wealth Management’s holdings in Pinterest were worth $9,538,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PINS. Golden State Wealth Management LLC boosted its stake in Pinterest by 282.7% during the second quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after buying an additional 506 shares in the last quarter. West Branch Capital LLC bought a new position in shares of Pinterest during the 2nd quarter worth about $36,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Pinterest during the 2nd quarter valued at about $40,000. SVB Wealth LLC bought a new stake in Pinterest in the first quarter valued at about $56,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Pinterest by 138.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,586 shares of the company’s stock valued at $57,000 after acquiring an additional 922 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PINS shares. Monness Crespi & Hardt cut shares of Pinterest from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 5th. Citigroup restated a “buy” rating on shares of Pinterest in a research report on Wednesday, November 5th. Evercore ISI decreased their price target on Pinterest from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Guggenheim dropped their price objective on Pinterest from $44.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $30.00 price objective (down from $49.00) on shares of Pinterest in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and an average target price of $39.55.

Pinterest Price Performance

PINS stock opened at $25.45 on Thursday. The business has a fifty day moving average price of $31.91 and a 200 day moving average price of $33.88. The stock has a market capitalization of $17.19 billion, a price-to-earnings ratio of 8.84, a P/E/G ratio of 1.56 and a beta of 0.96. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $665.93 million during the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%. On average, equities analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 74,047 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the sale, the insider owned 301,214 shares of the company’s stock, valued at $8,099,644.46. This trade represents a 19.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total transaction of $795,311.85. Following the completion of the transaction, the chief financial officer owned 312,422 shares of the company’s stock, valued at $10,887,906.70. This trade represents a 6.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 611,050 shares of company stock worth $21,260,379. 7.06% of the stock is owned by insiders.

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.