Venturi Wealth Management LLC Acquires 18,359 Shares of Pinterest, Inc. (NYSE:PINS)

Venturi Wealth Management LLC increased its position in Pinterest, Inc. (NYSE:PINS) by 3,096.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,952 shares of the company’s stock after purchasing an additional 18,359 shares during the quarter. Venturi Wealth Management LLC’s holdings in Pinterest were worth $550,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its position in Pinterest by 1.2% in the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after purchasing an additional 156,748 shares during the period. Geode Capital Management LLC lifted its position in Pinterest by 0.8% in the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after purchasing an additional 76,920 shares during the period. Ontario Teachers Pension Plan Board lifted its position in Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after purchasing an additional 2,996,750 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Pinterest by 8.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock valued at $192,423,000 after acquiring an additional 460,708 shares during the period. Finally, Ninety One UK Ltd lifted its holdings in shares of Pinterest by 5.4% during the fourth quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock valued at $158,677,000 after acquiring an additional 278,362 shares during the period. 88.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. KeyCorp lifted their price objective on Pinterest from $37.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Piper Sandler reissued a “neutral” rating and set a $41.00 price objective (up from $36.00) on shares of Pinterest in a report on Friday, February 7th. Stifel Nicolaus reissued a “buy” rating and set a $50.00 price objective (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price objective (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, Oppenheimer lifted their price objective on Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.86.

Pinterest Trading Down 1.5 %

Pinterest stock opened at $38.72 on Thursday. The firm has a market capitalization of $26.26 billion, a P/E ratio of 14.39, a PEG ratio of 1.91 and a beta of 1.06. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The business has a 50-day moving average of $32.60 and a 200-day moving average of $31.72.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the transaction, the insider now owns 246,921 shares in the company, valued at $7,610,105.22. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total value of $35,627.00. Following the transaction, the director now owns 31,386 shares in the company, valued at $972,338.28. This trade represents a 3.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock worth $600,010 in the last 90 days. Corporate insiders own 7.11% of the company’s stock.

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.