Bank of New York Mellon Corp Purchases 1,318,092 Shares of Pinterest, Inc. $PINS

Bank of New York Mellon Corp lifted its position in shares of Pinterest, Inc. (NYSE:PINS) by 57.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,612,769 shares of the company’s stock after acquiring an additional 1,318,092 shares during the quarter. Bank of New York Mellon Corp’s holdings in Pinterest were worth $93,535,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Snowden Capital Advisors LLC grew its position in shares of Pinterest by 4.4% during the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock worth $253,000 after buying an additional 296 shares in the last quarter. EP Wealth Advisors LLC grew its position in shares of Pinterest by 3.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock worth $340,000 after buying an additional 358 shares in the last quarter. Central Pacific Bank Trust Division grew its position in shares of Pinterest by 0.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 95,960 shares of the company’s stock worth $2,484,000 after buying an additional 464 shares in the last quarter. Simon Quick Advisors LLC lifted its stake in shares of Pinterest by 5.5% during the 4th quarter. Simon Quick Advisors LLC now owns 10,237 shares of the company’s stock worth $265,000 after purchasing an additional 535 shares during the last quarter. Finally, Coyle Financial Counsel LLC lifted its stake in shares of Pinterest by 5.8% during the 3rd quarter. Coyle Financial Counsel LLC now owns 10,002 shares of the company’s stock worth $322,000 after purchasing an additional 551 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Insiders Place Their Bets

In related news, insider Wanjiku Juanita Walcott sold 27,337 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $20.46, for a total transaction of $559,315.02. Following the completion of the transaction, the insider owned 724,673 shares in the company, valued at approximately $14,826,809.58. The trade was a 3.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gokul Rajaram sold 2,100 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total transaction of $42,000.00. Following the completion of the sale, the director directly owned 27,450 shares of the company’s stock, valued at approximately $549,000. This trade represents a 7.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 77,362 shares of company stock worth $1,583,253 over the last 90 days. Corporate insiders own 8.09% of the company’s stock.

Pinterest Stock Up 2.4%

PINS stock opened at $21.94 on Tuesday. The firm has a market cap of $12.29 billion, a PE ratio of 45.71, a PEG ratio of 1.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The firm’s 50 day moving average price is $19.72 and its 200-day moving average price is $21.71. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93.

Pinterest (NYSE:PINS) last posted its earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $965.84 million. During the same quarter last year, the firm earned $0.23 EPS. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.68 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on PINS. Robert W. Baird increased their price target on Pinterest from $20.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. TD Cowen raised their target price on Pinterest from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Citigroup raised their target price on Pinterest from $19.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Cantor Fitzgerald set a $18.00 price objective on Pinterest in a report on Friday, February 13th. Finally, UBS Group raised their price objective on Pinterest from $29.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Sixteen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Pinterest currently has an average rating of “Hold” and an average target price of $27.40.

Pinterest Company 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.