M&T Bank Corp Has $2.62 Million Holdings in Pinterest, Inc. (NYSE:PINS)

M&T Bank Corp lessened its holdings in Pinterest, Inc. (NYSE:PINS) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 70,722 shares of the company’s stock after selling 1,563 shares during the quarter. M&T Bank Corp’s holdings in Pinterest were worth $2,619,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. ARK Investment Management LLC lifted its stake in Pinterest by 152.3% in the fourth quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock valued at $53,507,000 after buying an additional 872,016 shares during the period. Nordea Investment Management AB increased its stake in shares of Pinterest by 57.9% in the 4th quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock valued at $32,766,000 after acquiring an additional 323,547 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Pinterest by 3,402.0% in the 4th quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock valued at $2,973,000 after acquiring an additional 77,974 shares during the period. Acadian Asset Management LLC boosted its stake in Pinterest by 53.1% during the 3rd quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock worth $84,826,000 after acquiring an additional 1,089,299 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Pinterest by 55.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock valued at $6,477,000 after purchasing an additional 62,117 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. KeyCorp decreased their price target on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Susquehanna boosted their target price on Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a research note on Friday, February 9th. Argus upgraded Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Thursday, January 18th. Piper Sandler lifted their price objective on Pinterest from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, BMO Capital Markets boosted their price objective on Pinterest from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.26.

Insider Activity at Pinterest

In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $36.65, for a total transaction of $733,000.00. Following the sale, the director now directly owns 54,215 shares of the company’s stock, valued at $1,986,979.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total transaction of $65,949.40. Following the transaction, the director now directly owns 33,580 shares of the company’s stock, valued at approximately $1,145,078. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $36.65, for a total value of $733,000.00. Following the sale, the director now directly owns 54,215 shares of the company’s stock, valued at approximately $1,986,979.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,471 shares of company stock valued at $5,773,431. 7.11% of the stock is owned by corporate insiders.

Pinterest Price Performance

Shares of NYSE PINS opened at $42.62 on Thursday. The business has a 50-day moving average of $35.16 and a 200-day moving average of $34.91. The stock has a market capitalization of $29.12 billion, a price-to-earnings ratio of 202.96, a PEG ratio of 4.02 and a beta of 0.99. Pinterest, Inc. has a fifty-two week low of $21.02 and a fifty-two week high of $42.80.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The firm had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. On average, sell-side analysts expect that Pinterest, Inc. will post 0.43 EPS for the current year.

Pinterest Company Profile

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.