SummitTX Capital L.P. Invests $559,000 in Pinterest, Inc. $PINS

SummitTX Capital L.P. bought a new stake in Pinterest, Inc. (NYSE:PINS) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 30,484 shares of the company’s stock, valued at approximately $559,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC acquired a new position in Pinterest during the 4th quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd increased its position in shares of Pinterest by 2,017.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock valued at $29,000 after purchasing an additional 1,049 shares during the last quarter. Addison Advisors LLC raised its holdings in shares of Pinterest by 727.3% in the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock valued at $35,000 after purchasing an additional 1,200 shares in the last quarter. Garner Asset Management Corp acquired a new stake in shares of Pinterest in the 4th quarter valued at $36,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Pinterest during the 1st quarter worth $43,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analysts Set New Price Targets

PINS has been the subject of a number of analyst reports. Morgan Stanley boosted their target price on shares of Pinterest from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. raised their price target on Pinterest from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. DA Davidson began coverage on Pinterest in a report on Wednesday, July 8th. They set a “buy” rating and a $26.00 price target for the company. Rosenblatt Securities upped their price objective on Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $30.00 price objective on shares of Pinterest in a report on Tuesday, May 5th. Seventeen research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the stock. According to data from MarketBeat.com, Pinterest has an average rating of “Hold” and a consensus target price of $27.69.

Pinterest Stock Down 1.3%

Shares of NYSE:PINS opened at $24.11 on Friday. The firm has a 50 day simple moving average of $21.70 and a 200-day simple moving average of $20.58. Pinterest, Inc. has a twelve month low of $13.84 and a twelve month high of $39.93. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $13.50 billion, a PE ratio of 50.23, a P/E/G ratio of 1.39 and a beta of 0.89.

Pinterest (NYSE:PINS) last posted its earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $965.84 million. During the same period last year, the firm posted $0.23 EPS. The company’s revenue was up 17.8% on a year-over-year basis. On average, equities analysts predict that Pinterest, Inc. will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other news, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $22.54, for a total transaction of $1,056,562.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $20.46, for a total value of $559,315.02. Following the completion of the sale, the insider directly owned 724,673 shares of the company’s stock, valued at $14,826,809.58. The trade was a 3.64% decrease in their ownership of the stock. 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 370,720 shares of company stock valued at $7,892,627 in the last 90 days. 8.09% of the stock is currently owned by 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.