Benchstone Capital Management LP Acquires 308,047 Shares of Pinterest, Inc. $PINS

Benchstone Capital Management LP grew its holdings in Pinterest, Inc. (NYSE:PINS) by 51.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 905,317 shares of the company’s stock after acquiring an additional 308,047 shares during the quarter. Pinterest accounts for 2.9% of Benchstone Capital Management LP’s portfolio, making the stock its 15th largest holding. Benchstone Capital Management LP owned approximately 0.13% of Pinterest worth $32,465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PINS. Golden State Wealth Management LLC raised its stake in Pinterest by 282.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after purchasing an additional 506 shares during the last quarter. West Branch Capital LLC bought a new position in shares of Pinterest during the 2nd quarter worth about $36,000. Wellington Shields Capital Management LLC bought a new position in shares of Pinterest during the 2nd quarter worth about $40,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Pinterest by 138.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,586 shares of the company’s stock valued at $57,000 after buying an additional 922 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Pinterest in the first quarter valued at about $56,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of NYSE PINS opened at $25.93 on Friday. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $40.90. The business has a fifty day moving average of $29.20 and a two-hundred day moving average of $33.33. The stock has a market cap of $17.52 billion, a PE ratio of 9.00, a PEG ratio of 1.70 and a beta of 0.89.

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

Insider Activity

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the completion of the transaction, the chief financial officer owned 312,422 shares in the company, valued at approximately $10,887,906.70. The trade was a 6.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 301,042 shares of company stock worth $10,087,667. Insiders own 7.06% of the company’s stock.

Wall Street Analyst Weigh In

PINS has been the topic of several research reports. Monness Crespi & Hardt lowered Pinterest from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 5th. Guggenheim decreased their price objective on Pinterest from $44.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Pinterest in a research note on Monday. Wall Street Zen cut Pinterest from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, Royal Bank Of Canada lowered their price target on shares of Pinterest from $45.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.