Titleist Asset Management LLC Acquires 27,152 Shares of Pinterest, Inc. $PINS

Titleist Asset Management LLC increased its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 193.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,170 shares of the company’s stock after purchasing an additional 27,152 shares during the period. Titleist Asset Management LLC’s holdings in Pinterest were worth $1,476,000 at the end of the most recent quarter.

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

Insider Activity at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 74,047 shares of Pinterest stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the transaction, the insider owned 301,214 shares of the company’s stock, valued at $8,099,644.46. This trade represents a 19.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total transaction of $3,558,613.38. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 607,291 shares of company stock valued at $21,128,964. 7.06% of the stock is owned by corporate insiders.

Pinterest Stock Performance

NYSE:PINS opened at $24.93 on Friday. The stock’s 50-day simple moving average is $31.51 and its 200 day simple moving average is $33.85. The company has a market cap of $16.84 billion, a P/E ratio of 8.66, a P/E/G ratio of 1.51 and a beta of 0.96. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $40.90.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PINS shares. Bank of America cut their price objective on shares of Pinterest from $44.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Wall Street Zen lowered Pinterest from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. BMO Capital Markets reduced their price objective on Pinterest from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Piper Sandler reiterated a “neutral” rating and set a $33.00 price objective (down from $35.00) on shares of Pinterest in a report on Wednesday, November 5th. Finally, Benchmark cut their target price on Pinterest from $48.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Pinterest has an average rating of “Moderate Buy” and an average price target of $39.55.

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.