Pinterest, Inc. (NYSE:PINS) Shares Bought by Westpac Banking Corp

Westpac Banking Corp lifted its stake in shares of Pinterest, Inc. (NYSE:PINS) by 34.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,595 shares of the company’s stock after purchasing an additional 8,893 shares during the period. Westpac Banking Corp’s holdings in Pinterest were worth $1,003,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Whipplewood Advisors LLC bought a new position in Pinterest during the 4th quarter worth approximately $28,000. GAMMA Investing LLC lifted its stake in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in Pinterest by 51.5% in the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after purchasing an additional 590 shares during the period. Huntington National Bank increased its stake in Pinterest by 484.1% during the fourth quarter. Huntington National Bank now owns 2,027 shares of the company’s stock valued at $59,000 after purchasing an additional 1,680 shares during the last quarter. Finally, Manchester Capital Management LLC raised its holdings in shares of Pinterest by 17,692.3% during the fourth quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock worth $67,000 after purchasing an additional 2,300 shares during the period. Institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on PINS. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price target (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Cantor Fitzgerald upped their target price on Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Roth Capital set a $32.00 price target on Pinterest in a report on Monday, February 3rd. Guggenheim restated a “buy” rating on shares of Pinterest in a research note on Tuesday. Finally, Benchmark raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Pinterest Price Performance

Shares of PINS opened at $27.54 on Friday. Pinterest, Inc. has a 12-month low of $26.95 and a 12-month high of $45.19. The stock has a market capitalization of $18.68 billion, a P/E ratio of 10.24, a P/E/G ratio of 1.95 and a beta of 0.99. The firm’s 50 day moving average is $34.54 and its 200-day moving average is $32.40.

Pinterest (NYSE:PINS) last posted its quarterly 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 net margin of 51.07% and a return on equity of 8.10%. As a group, equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now directly owns 144,129 shares in the company, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the sale, the director now owns 30,236 shares of the company’s stock, valued at $920,081.48. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 453,836 shares of company stock valued at $14,832,336 over the last three months. Insiders own 7.11% of the company’s stock.

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.