Bank of New York Mellon Corp Buys 401,619 Shares of Pinterest, Inc. $PINS

Bank of New York Mellon Corp raised its stake in Pinterest, Inc. (NYSE:PINS) by 11.1% during the first quarter, HoldingsChannel reports. The fund owned 4,014,388 shares of the company’s stock after buying an additional 401,619 shares during the period. Bank of New York Mellon Corp’s holdings in Pinterest were worth $73,624,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Revolve Wealth Partners LLC bought a new stake in Pinterest during the 4th quarter valued at about $252,000. Integrated Wealth Concepts LLC grew its holdings in shares of Pinterest by 5.9% during the first quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company’s stock valued at $339,000 after buying an additional 607 shares during the last quarter. Empowered Funds LLC increased its position in shares of Pinterest by 45.6% during the first quarter. Empowered Funds LLC now owns 15,168 shares of the company’s stock valued at $470,000 after acquiring an additional 4,748 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Pinterest by 39.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company’s stock valued at $335,000 after purchasing an additional 2,649 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in Pinterest during the 2nd quarter valued at $696,000. 88.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Evercore set a $27.00 price target on Pinterest in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pinterest in a research report on Tuesday, June 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $28.00 price target on shares of Pinterest in a report on Tuesday, May 5th. TD Cowen reiterated a “buy” rating on shares of Pinterest in a research note on Monday, June 22nd. Finally, Guggenheim reissued a “buy” rating and set a $24.00 price objective on shares of Pinterest in a report on Monday, June 15th. Seventeen research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $27.69.

Insiders Place Their Bets

In other Pinterest news, Director Benjamin Silbermann sold 46,875 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $22.63, for a total transaction of $1,060,781.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 14,208 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $19.65, for a total value of $279,187.20. Following the completion of the transaction, the insider owned 691,840 shares in the company, valued at $13,594,656. The trade was a 2.01% 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 323,845 shares of company stock valued at $6,836,065 in the last quarter. 8.09% of the stock is currently owned by company insiders.

Pinterest Price Performance

Shares of Pinterest stock opened at $22.61 on Thursday. The stock has a market cap of $12.66 billion, a P/E ratio of 47.10, a P/E/G ratio of 1.30 and a beta of 0.89. 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 stock’s fifty day moving average is $21.08 and its 200 day moving average is $20.70. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $965.84 million. During the same period in the previous year, the firm earned $0.23 EPS. The business’s quarterly revenue was up 17.8% on a year-over-year basis. Sell-side analysts anticipate that Pinterest, Inc. will post 0.65 earnings per share for the current year.

About Pinterest

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.