Central Pacific Bank Trust Division Raises Position in Pinterest, Inc. $PINS

Central Pacific Bank Trust Division lifted its holdings in Pinterest, Inc. (NYSE:PINS) by 33.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,496 shares of the company’s stock after purchasing an additional 23,828 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Pinterest were worth $3,072,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Pinterest in the second quarter valued at about $477,853,000. Amundi increased its holdings in shares of Pinterest by 618.9% during the first quarter. Amundi now owns 14,254,741 shares of the company’s stock valued at $441,897,000 after acquiring an additional 12,271,958 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Pinterest by 25.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock valued at $988,662,000 after purchasing an additional 6,460,143 shares during the last quarter. Swedbank AB boosted its stake in Pinterest by 344.0% in the 1st quarter. Swedbank AB now owns 5,839,485 shares of the company’s stock worth $181,024,000 after purchasing an additional 4,524,433 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its position in Pinterest by 1,138.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock worth $165,012,000 after purchasing an additional 4,230,125 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Stock Performance

NYSE PINS opened at $25.79 on Tuesday. The firm has a market capitalization of $17.42 billion, a P/E ratio of 8.95, a PEG ratio of 1.65 and a beta of 0.89. The stock has a 50-day simple moving average of $29.08 and a two-hundred day simple moving average of $33.32. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The firm had revenue of $665.93 million for the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%. As a group, analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total transaction of $3,558,613.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the sale, the insider owned 301,214 shares in the company, valued at approximately $8,099,644.46. This represents a 19.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 301,042 shares of company stock valued at $10,087,667 in the last 90 days. 7.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PINS has been the subject of a number of research analyst reports. Roth Capital decreased their price target on shares of Pinterest from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. BMO Capital Markets reduced their target price on Pinterest from $41.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Barclays lowered their price target on Pinterest from $40.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. The Goldman Sachs Group cut their price objective on Pinterest from $43.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, Mizuho began coverage on Pinterest in a report on Monday, September 29th. They set an “outperform” rating and a $50.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.97.

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.