Post by Dividavi on Nov 10, 2023 0:53:23 GMT
www.marketbeat.com/instant-alerts/nyse-pins-sec-filing-2024-01-05/
Compass Wealth Management LLC Raises Position in Pinterest, Inc. (NYSE:PINS)
Written by MarketBeat
January 5, 2024
Compass Wealth Management LLC raised its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 10,475.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,750 shares of the company's stock after purchasing an additional 104,750 shares during the period. Compass Wealth Management LLC's holdings in Pinterest were worth $2,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Forsta AP Fonden raised its position in Pinterest by 5.4% during the third quarter. Forsta AP Fonden now owns 292,100 shares of the company's stock valued at $7,895,000 after purchasing an additional 15,000 shares during the period. Brown Advisory Inc. grew its stake in shares of Pinterest by 1.1% during the third quarter. Brown Advisory Inc. now owns 6,352,023 shares of the company's stock valued at $171,695,000 after buying an additional 69,773 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Pinterest by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 2,484,116 shares of the company's stock valued at $67,146,000 after buying an additional 39,431 shares during the last quarter. Simon Quick Advisors LLC grew its stake in shares of Pinterest by 28.6% during the third quarter. Simon Quick Advisors LLC now owns 13,090 shares of the company's stock valued at $354,000 after buying an additional 2,915 shares during the last quarter. Finally, 1834 Investment Advisors Co. grew its stake in shares of Pinterest by 47.4% during the third quarter. 1834 Investment Advisors Co. now owns 14,696 shares of the company's stock valued at $397,000 after buying an additional 4,725 shares during the last quarter. 72.63% of the stock is currently owned by hedge funds and other institutional investors.
Pinterest Stock Performance
Shares of PINS stock traded up $0.56 on Friday, hitting $36.34. The company had a trading volume of 849,717 shares, compared to its average volume of 5,327,111. The company has a 50-day moving average price of $33.64 and a 200-day moving average price of $29.39. Pinterest, Inc. has a twelve month low of $20.60 and a twelve month high of $38.24.
Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data on Monday, October 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.06. The business had revenue of $763.20 million during the quarter, compared to analysts' expectations of $743.34 million. Pinterest had a negative return on equity of 1.98% and a negative net margin of 7.43%. On average, equities analysts expect that Pinterest, Inc. will post 0.11 EPS for the current year.
Analyst Ratings Changes
PINS has been the topic of a number of analyst reports. Bank of America raised Pinterest from a "neutral" rating to a "buy" rating and upped their target price for the company from $32.00 to $37.00 in a research note on Tuesday, October 31st. New Street Research assumed coverage on Pinterest in a research note on Monday, November 27th. They issued a "buy" rating and a $48.00 price objective on the stock. Piper Sandler increased their price objective on Pinterest from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 29th. Royal Bank of Canada raised Pinterest from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $32.00 to $46.00 in a research note on Monday, December 11th. Finally, DA Davidson raised Pinterest from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $25.00 to $35.00 in a research note on Wednesday, September 20th. Nine research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $34.97.
Insider Activity at Pinterest
In related news, insider Christine Deputy sold 7,447 shares of Pinterest stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $29.00, for a total value of $215,963.00. Following the completion of the transaction, the insider now owns 308,934 shares in the company, valued at approximately $8,959,086. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Pinterest news, insider Christine Deputy sold 7,447 shares of the business's stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $29.00, for a total transaction of $215,963.00. Following the completion of the sale, the insider now directly owns 308,934 shares in the company, valued at approximately $8,959,086. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,934 shares of the business's stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $27.46, for a total value of $53,107.64. Following the sale, the director now owns 50,986 shares of the company's stock, valued at $1,400,075.56. The disclosure for this sale can be found here. Insiders sold a total of 139,932 shares of company stock worth $4,323,765 in the last 90 days. Corporate insiders own 6.85% of the company's stock.
About Pinterest (Free Report)
Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.
Further Reading
Five stocks we like better than Pinterest
Are Penny Stocks a Good Fit for Your Portfolio?
Is Sidus Space about to launch its share price into reversal?
Election Stocks: How Elections Affect the Stock Market
Are top upgrades Micron, Lululemon & CrowdStrike buys right now?
With Risk Tolerance, One Size Does Not Fit All
Small-cap Utz Brands has mid-cap aspirations: analysts upgrade
Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINS - Free Report).
Institutional Ownership by Quarter for Pinterest (NYSE:PINS)
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pinterest wasn't on the list.
While Pinterest currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
Compass Wealth Management LLC Raises Position in Pinterest, Inc. (NYSE:PINS)
Written by MarketBeat
January 5, 2024
Compass Wealth Management LLC raised its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 10,475.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,750 shares of the company's stock after purchasing an additional 104,750 shares during the period. Compass Wealth Management LLC's holdings in Pinterest were worth $2,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Forsta AP Fonden raised its position in Pinterest by 5.4% during the third quarter. Forsta AP Fonden now owns 292,100 shares of the company's stock valued at $7,895,000 after purchasing an additional 15,000 shares during the period. Brown Advisory Inc. grew its stake in shares of Pinterest by 1.1% during the third quarter. Brown Advisory Inc. now owns 6,352,023 shares of the company's stock valued at $171,695,000 after buying an additional 69,773 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Pinterest by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 2,484,116 shares of the company's stock valued at $67,146,000 after buying an additional 39,431 shares during the last quarter. Simon Quick Advisors LLC grew its stake in shares of Pinterest by 28.6% during the third quarter. Simon Quick Advisors LLC now owns 13,090 shares of the company's stock valued at $354,000 after buying an additional 2,915 shares during the last quarter. Finally, 1834 Investment Advisors Co. grew its stake in shares of Pinterest by 47.4% during the third quarter. 1834 Investment Advisors Co. now owns 14,696 shares of the company's stock valued at $397,000 after buying an additional 4,725 shares during the last quarter. 72.63% of the stock is currently owned by hedge funds and other institutional investors.
Pinterest Stock Performance
Shares of PINS stock traded up $0.56 on Friday, hitting $36.34. The company had a trading volume of 849,717 shares, compared to its average volume of 5,327,111. The company has a 50-day moving average price of $33.64 and a 200-day moving average price of $29.39. Pinterest, Inc. has a twelve month low of $20.60 and a twelve month high of $38.24.
Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data on Monday, October 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.06. The business had revenue of $763.20 million during the quarter, compared to analysts' expectations of $743.34 million. Pinterest had a negative return on equity of 1.98% and a negative net margin of 7.43%. On average, equities analysts expect that Pinterest, Inc. will post 0.11 EPS for the current year.
Analyst Ratings Changes
PINS has been the topic of a number of analyst reports. Bank of America raised Pinterest from a "neutral" rating to a "buy" rating and upped their target price for the company from $32.00 to $37.00 in a research note on Tuesday, October 31st. New Street Research assumed coverage on Pinterest in a research note on Monday, November 27th. They issued a "buy" rating and a $48.00 price objective on the stock. Piper Sandler increased their price objective on Pinterest from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 29th. Royal Bank of Canada raised Pinterest from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $32.00 to $46.00 in a research note on Monday, December 11th. Finally, DA Davidson raised Pinterest from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $25.00 to $35.00 in a research note on Wednesday, September 20th. Nine research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $34.97.
Insider Activity at Pinterest
In related news, insider Christine Deputy sold 7,447 shares of Pinterest stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $29.00, for a total value of $215,963.00. Following the completion of the transaction, the insider now owns 308,934 shares in the company, valued at approximately $8,959,086. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Pinterest news, insider Christine Deputy sold 7,447 shares of the business's stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $29.00, for a total transaction of $215,963.00. Following the completion of the sale, the insider now directly owns 308,934 shares in the company, valued at approximately $8,959,086. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,934 shares of the business's stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $27.46, for a total value of $53,107.64. Following the sale, the director now owns 50,986 shares of the company's stock, valued at $1,400,075.56. The disclosure for this sale can be found here. Insiders sold a total of 139,932 shares of company stock worth $4,323,765 in the last 90 days. Corporate insiders own 6.85% of the company's stock.
About Pinterest (Free Report)
Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.
Further Reading
Five stocks we like better than Pinterest
Are Penny Stocks a Good Fit for Your Portfolio?
Is Sidus Space about to launch its share price into reversal?
Election Stocks: How Elections Affect the Stock Market
Are top upgrades Micron, Lululemon & CrowdStrike buys right now?
With Risk Tolerance, One Size Does Not Fit All
Small-cap Utz Brands has mid-cap aspirations: analysts upgrade
Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINS - Free Report).
Institutional Ownership by Quarter for Pinterest (NYSE:PINS)
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pinterest wasn't on the list.
While Pinterest currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.