Pallas Capital Advisors LLC Buys New Position in Pinterest, Inc. (NYSE:PINS)

Pallas Capital Advisors LLC bought a new stake in shares of Pinterest, Inc. (NYSE:PINS) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 15,595 shares of the company’s stock, valued at approximately $496,000.

Several other hedge funds have also modified their holdings of PINS. Brown Shipley& Co Ltd purchased a new stake in shares of Pinterest during the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC purchased a new stake in shares of Pinterest during the 2nd quarter valued at about $26,000. Hexagon Capital Partners LLC raised its holdings in shares of Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares during the period. GAMMA Investing LLC raised its holdings in shares of Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in shares of Pinterest during the 2nd quarter valued at about $35,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the sale, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is owned by company insiders.

Pinterest Price Performance

Shares of Pinterest stock opened at $32.58 on Thursday. The business’s fifty day moving average price is $31.75 and its two-hundred day moving average price is $36.39. The company has a market capitalization of $22.26 billion, a P/E ratio of 155.14, a PEG ratio of 2.50 and a beta of 1.01. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) EPS. On average, research analysts expect that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PINS has been the topic of several analyst reports. Susquehanna dropped their price objective on Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a report on Wednesday, July 31st. Morgan Stanley lifted their price objective on Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price objective on the stock. Evercore ISI dropped their price objective on Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, Piper Sandler restated an “overweight” rating and set a $45.00 price objective on shares of Pinterest in a report on Friday, September 13th. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.32.

Pinterest 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.