Clarity Wealth Advisors LLC Boosts Holdings in Pinterest, Inc. (NYSE:PINS)

Clarity Wealth Advisors LLC raised its position in Pinterest, Inc. (NYSE:PINS) by 6.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,585 shares of the company’s stock after buying an additional 525 shares during the quarter. Clarity Wealth Advisors LLC’s holdings in Pinterest were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PINS. Brown Shipley& Co Ltd purchased a new stake in shares of Pinterest during the second quarter worth $25,000. Wellington Shields Capital Management LLC purchased a new stake in Pinterest during the 2nd quarter worth about $26,000. Hexagon Capital Partners LLC boosted its stake in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares during the period. GAMMA Investing LLC grew its holdings in Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in Pinterest during the 2nd quarter valued at about $35,000. 88.81% of the stock is currently owned by institutional investors.

Pinterest Stock Performance

Shares of PINS traded up $0.24 on Friday, reaching $33.18. The stock had a trading volume of 4,633,934 shares, compared to its average volume of 9,387,067. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19. The firm has a market capitalization of $22.77 billion, a price-to-earnings ratio of 122.86, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01. The company has a 50-day simple moving average of $31.50 and a 200-day simple moving average of $36.48.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The firm had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. During the same quarter in the previous year, the business posted ($0.04) EPS. The company’s quarterly revenue was up 20.6% on a year-over-year basis. On average, analysts expect that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Wall Street Analyst Weigh In

PINS has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Raymond James cut their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Robert W. Baird decreased their price target on shares of Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. UBS Group lowered their price objective on Pinterest from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Citigroup dropped their target price on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and an average price target of $43.32.

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.