Pinterest, Inc. (NYSE:PINS) Shares Purchased by RWA Wealth Partners LLC

RWA Wealth Partners LLC raised its stake in shares of Pinterest, Inc. (NYSE:PINS) by 3,349.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 259,385 shares of the company’s stock after buying an additional 251,865 shares during the period. RWA Wealth Partners LLC’s holdings in Pinterest were worth $7,522,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PINS. Cerity Partners LLC grew its holdings in shares of Pinterest by 63.4% during the third quarter. Cerity Partners LLC now owns 52,357 shares of the company’s stock worth $1,695,000 after buying an additional 20,310 shares in the last quarter. Algert Global LLC grew its stake in Pinterest by 53.4% in the 3rd quarter. Algert Global LLC now owns 16,099 shares of the company’s stock worth $521,000 after acquiring an additional 5,604 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Pinterest by 0.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,982 shares of the company’s stock valued at $4,013,000 after acquiring an additional 1,008 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Pinterest by 3.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after purchasing an additional 339 shares during the period. Finally, Icon Wealth Advisors LLC boosted its holdings in shares of Pinterest by 10.2% during the third quarter. Icon Wealth Advisors LLC now owns 6,692 shares of the company’s stock worth $217,000 after purchasing an additional 619 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the transaction, the chief accounting officer now owns 144,129 shares in the company, valued at approximately $5,399,072.34. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 38,596 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $34.27, for a total value of $1,322,684.92. Following the sale, the chief financial officer now directly owns 231,879 shares in the company, valued at approximately $7,946,493.33. This represents a 14.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,753 shares of company stock valued at $11,640,201 in the last ninety days. Corporate insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

Shares of PINS opened at $31.49 on Monday. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The stock has a 50-day moving average price of $34.66 and a 200 day moving average price of $32.41. The company has a market capitalization of $21.35 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, equities research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PINS shares. The Goldman Sachs Group upped their target price on Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price objective (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 target price (down from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Benchmark raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Friday, February 7th. Finally, Barclays lifted their price target on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.33.

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.