Pinterest, Inc. (NYSE:PINS) Shares Purchased by Cannell Capital LLC
Cannell Capital LLC increased its holdings in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 86.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 493,246 shares of the company’s stock after acquiring an additional 228,205 shares during the period. Pinterest makes up approximately 2.7% of Cannell Capital LLC’s portfolio, making the stock its 14th biggest holding. Cannell Capital LLC owned 0.07% of Pinterest worth $13,485,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Pinterest by 1.9% in the first quarter. Vanguard Group Inc. now owns 50,128,803 shares of the company’s stock valued at $1,233,670,000 after acquiring an additional 958,619 shares in the last quarter. BlackRock Inc. lifted its position in shares of Pinterest by 1.6% in the second quarter. BlackRock Inc. now owns 34,476,228 shares of the company’s stock valued at $942,580,000 after acquiring an additional 545,900 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Pinterest by 28.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,743,947 shares of the company’s stock valued at $702,039,000 after acquiring an additional 5,670,073 shares in the last quarter. Macquarie Group Ltd. lifted its position in Pinterest by 22.7% during the first quarter. Macquarie Group Ltd. now owns 18,300,308 shares of the company’s stock worth $499,049,000 after buying an additional 3,385,379 shares during the period. Finally, State Street Corp lifted its position in Pinterest by 2.0% during the first quarter. State Street Corp now owns 12,143,900 shares of the company’s stock worth $298,861,000 after buying an additional 235,403 shares during the period. Institutional investors and hedge funds own 72.63% of the company’s stock.
Pinterest Price Performance
Shares of NYSE PINS traded up $0.89 during mid-day trading on Friday, hitting $34.91. The company had a trading volume of 14,879,575 shares, compared to its average volume of 9,269,766. The stock has a market cap of $23.54 billion, a price-to-earnings ratio of -109.09, a PEG ratio of 8.62 and a beta of 1.01. Pinterest, Inc. has a 12 month low of $20.60 and a 12 month high of $35.36. The firm’s 50 day simple moving average is $29.86 and its two-hundred day simple moving average is $27.74.
Pinterest (NYSE:PINS – Get Free Report) last announced its earnings results on Monday, October 30th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.06. The firm had revenue of $763.20 million for the quarter, compared to the consensus estimate of $743.34 million. Pinterest had a negative return on equity of 1.98% and a negative net margin of 7.43%. Equities analysts forecast that Pinterest, Inc. will post 0.11 earnings per share for the current year.
Wall Street Analysts Forecast Growth
PINS has been the topic of several recent analyst reports. KeyCorp increased their target price on Pinterest from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 31st. JPMorgan Chase & Co. increased their target price on Pinterest from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. New Street Research began coverage on Pinterest in a report on Monday, November 27th. They issued a “buy” rating and a $48.00 price objective on the stock. Wells Fargo & Company cut their price objective on Pinterest from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, September 20th. Finally, Stifel Nicolaus upgraded Pinterest from a “hold” rating to a “buy” rating and increased their target price for the company from $27.00 to $32.00 in a research note on Monday, October 23rd. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Pinterest has an average rating of “Moderate Buy” and an average target price of $34.34.
Read Our Latest Stock Analysis on PINS
Insider Buying and Selling at Pinterest
In other Pinterest news, SVP Naveen Gavini sold 9,888 shares of Pinterest stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $27.81, for a total transaction of $274,985.28. Following the sale, the senior vice president now owns 217,918 shares of the company’s stock, valued at approximately $6,060,299.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $27.90, for a total transaction of $53,958.60. Following the transaction, the director now directly owns 52,920 shares in the company, valued at approximately $1,476,468. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Naveen Gavini sold 9,888 shares of Pinterest stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $27.81, for a total value of $274,985.28. Following the transaction, the senior vice president now owns 217,918 shares in the company, valued at $6,060,299.58. The disclosure for this sale can be found here. Insiders have sold 167,410 shares of company stock valued at $4,600,606 in the last quarter. Corporate insiders own 6.85% of the company’s stock.
Pinterest Company Profile (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.
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Original: MarketBeat News Feed: Pinterest, Inc. (NYSE:PINS) Shares Purchased by Cannell Capital LLC