Steph & Co. Increases Holdings in Pinterest, Inc. (NYSE:PINS)

Steph & Co. lifted its position in Pinterest, Inc. (NYSE:PINS) by 58.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,911 shares of the company’s stock after purchasing an additional 2,557 shares during the quarter. Steph & Co.’s holdings in Pinterest were worth $256,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Rakuten Securities Inc. acquired a new stake in Pinterest during the fourth quarter worth about $30,000. Mackenzie Financial Corp grew its holdings in Pinterest by 5.5% during the fourth quarter. Mackenzie Financial Corp now owns 31,191 shares of the company’s stock worth $1,155,000 after acquiring an additional 1,622 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in Pinterest during the fourth quarter worth about $831,000. Strs Ohio grew its holdings in Pinterest by 94.9% during the fourth quarter. Strs Ohio now owns 662,224 shares of the company’s stock worth $24,528,000 after acquiring an additional 322,381 shares during the period. Finally, Carnegie Capital Asset Management LLC grew its holdings in Pinterest by 11.4% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 19,997 shares of the company’s stock worth $741,000 after acquiring an additional 2,048 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the sale, the director now owns 74,215 shares in the company, valued at approximately $2,789,741.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the transaction, the director now owns 74,215 shares in the company, valued at approximately $2,789,741.85. The disclosure for this sale can be found here. Insiders have sold a total of 184,471 shares of company stock valued at $6,525,231 in the last quarter. Insiders own 6.85% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on PINS. Stifel Nicolaus raised their target price on Pinterest from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Susquehanna raised their price objective on Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a report on Friday, February 9th. Argus raised Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Thursday, January 18th. Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price objective on shares of Pinterest in a report on Friday, February 9th. Finally, BMO Capital Markets started coverage on Pinterest in a report on Tuesday, January 9th. They issued an “outperform” rating and a $45.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.97.

Pinterest Stock Performance

Shares of Pinterest stock traded up $0.07 during trading hours on Wednesday, hitting $32.77. The company’s stock had a trading volume of 6,806,127 shares, compared to its average volume of 9,603,935. Pinterest, Inc. has a twelve month low of $20.60 and a twelve month high of $41.60. The firm has a fifty day moving average of $35.19 and a 200-day moving average of $33.95. The stock has a market cap of $22.25 billion, a price-to-earnings ratio of -544.91, a P/E/G ratio of 4.47 and a beta of 0.99.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. The business had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. On average, sell-side analysts expect that Pinterest, Inc. will post 0.36 earnings per share for the current fiscal year.

About Pinterest

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.