HB Wealth Management LLC Boosts Stock Position in Pinterest, Inc. (NYSE:PINS)

HB Wealth Management LLC grew its stake in shares of Pinterest, Inc. (NYSE:PINS) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,875 shares of the company’s stock after acquiring an additional 476 shares during the period. HB Wealth Management LLC’s holdings in Pinterest were worth $403,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Mutual Advisors LLC purchased a new stake in shares of Pinterest in the fourth quarter worth $241,000. SG Americas Securities LLC raised its position in shares of Pinterest by 506.6% in the fourth quarter. SG Americas Securities LLC now owns 202,262 shares of the company’s stock worth $7,492,000 after buying an additional 168,919 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Pinterest in the fourth quarter worth $628,000. 17 Capital Partners LLC purchased a new stake in shares of Pinterest in the fourth quarter worth $296,000. Finally, Radnor Capital Management LLC bought a new position in Pinterest in the fourth quarter valued at $617,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Trading Down 1.8 %

NYSE:PINS opened at $34.87 on Thursday. Pinterest, Inc. has a 12 month low of $20.60 and a 12 month high of $41.60. The company has a market cap of $23.68 billion, a PE ratio of -581.07, a price-to-earnings-growth ratio of 4.79 and a beta of 1.00. The company has a 50 day simple moving average of $36.27 and a two-hundred day simple moving average of $33.14.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The business had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. Research analysts forecast that Pinterest, Inc. will post 0.36 earnings per share for the current year.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total value of $65,949.40. Following the completion of the sale, the director now 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 SEC, which is available at the SEC website. In other news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total transaction of $65,949.40. Following the completion of the sale, the director now owns 33,580 shares of the company’s stock, valued at approximately $1,145,078. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $37.59, for a total transaction of $751,800.00. Following the sale, the director now directly owns 74,215 shares of the company’s stock, valued at approximately $2,789,741.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,250 shares of company stock valued at $5,484,246. Company insiders own 6.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. BMO Capital Markets assumed coverage on Pinterest in a research note on Tuesday, January 9th. They issued an “outperform” rating and a $45.00 target price on the stock. Jefferies Financial Group raised Pinterest from a “hold” rating to a “buy” rating and raised their price objective for the company from $32.00 to $41.00 in a research note on Thursday, November 30th. Royal Bank of Canada raised their price objective on Pinterest from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Wedbush raised their price objective on Pinterest from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, Evercore ISI raised their price objective on Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Seven research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and an average target price of $37.80.

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.