Fifth Third Bancorp Has $2.87 Million Stake in Pinterest, Inc. $PINS

Fifth Third Bancorp increased its stake in Pinterest, Inc. (NYSE:PINS) by 4,264.5% in the first quarter, Holdings Channel.com reports. The firm owned 156,556 shares of the company’s stock after purchasing an additional 152,969 shares during the quarter. Fifth Third Bancorp’s holdings in Pinterest were worth $2,871,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PINS. Elevated Capital Advisors LLC acquired a new stake in shares of Pinterest in the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Pinterest by 2,017.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after buying an additional 1,049 shares during the period. Addison Advisors LLC grew its holdings in shares of Pinterest by 727.3% during the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after buying an additional 1,200 shares in the last quarter. Garner Asset Management Corp acquired a new stake in Pinterest in the 4th quarter valued at approximately $36,000. Finally, MidFirst Bank acquired a new stake in Pinterest in the 4th quarter valued at approximately $44,000. Institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In other news, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $22.63, for a total transaction of $1,060,781.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $20.46, for a total value of $559,315.02. Following the transaction, the insider directly owned 724,673 shares in the company, valued at $14,826,809.58. The trade was a 3.64% 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. In the last three months, insiders have sold 323,845 shares of company stock worth $6,836,065. Company insiders own 8.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PINS shares. TD Cowen reaffirmed a “buy” rating on shares of Pinterest in a research report on Monday, June 22nd. Oppenheimer boosted their price objective on shares of Pinterest from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Stifel Nicolaus lifted their price target on shares of Pinterest from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Wells Fargo & Company boosted their price target on shares of Pinterest from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, Rosenblatt Securities increased their price objective on shares of Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Seventeen 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $27.66.

Pinterest Stock Performance

Shares of PINS opened at $22.82 on Tuesday. The company has a market cap of $12.78 billion, a PE ratio of 47.54, a price-to-earnings-growth ratio of 1.32 and a beta of 0.89. The firm has a 50-day moving average of $20.97 and a 200-day moving average of $20.74. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23.

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

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.