70,876 Shares in Pinterest, Inc. $PINS Purchased by Wesbanco Bank Inc.

Wesbanco Bank Inc. acquired a new position in Pinterest, Inc. (NYSE:PINS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 70,876 shares of the company’s stock, valued at approximately $2,280,000.

Several other large investors also recently bought and sold shares of PINS. Snowden Capital Advisors LLC lifted its position in shares of Pinterest by 4.4% in the second quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock valued at $253,000 after acquiring an additional 296 shares in the last quarter. Penserra Capital Management LLC raised its stake in Pinterest by 10.1% in the 2nd quarter. Penserra Capital Management LLC now owns 3,259 shares of the company’s stock valued at $115,000 after purchasing an additional 300 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in Pinterest by 3.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock valued at $340,000 after purchasing an additional 358 shares in the last quarter. Baltimore Washington Financial Advisors Inc. lifted its holdings in Pinterest by 3.6% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock valued at $369,000 after purchasing an additional 359 shares in the last quarter. Finally, Dynamic Wealth Strategies LLC boosted its stake in Pinterest by 5.8% during the 2nd quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock worth $237,000 after purchasing an additional 361 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Price Performance

Pinterest stock opened at $20.33 on Wednesday. The firm has a 50 day simple moving average of $25.25 and a 200-day simple moving average of $30.30. The stock has a market cap of $13.73 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 0.88 and a beta of 0.92. Pinterest, Inc. has a 1-year low of $19.05 and a 1-year high of $39.96.

Analysts Set New Price Targets

PINS has been the subject of a number of recent research reports. Bank of America reduced their target price on shares of Pinterest from $44.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Zacks Research upgraded shares of Pinterest from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Citigroup reissued a “buy” rating on shares of Pinterest in a research note on Wednesday, November 5th. Guggenheim dropped their price target on Pinterest from $44.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Cantor Fitzgerald cut their price target on Pinterest from $40.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.96.

Insider Activity at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $590,151.06. Following the completion of the sale, the chief financial officer owned 540,358 shares of the company’s stock, valued at $13,973,657.88. This trade represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Malik Ducard sold 6,000 shares of Pinterest stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $155,160.00. Following the completion of the sale, the insider owned 699,773 shares in the company, valued at $18,096,129.78. This represents a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,407 shares of company stock valued at $855,925 over the last quarter. 7.11% of the stock is currently owned by company insiders.

Pinterest 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.