Vise Technologies Inc. Buys New Stake in Pinterest, Inc. $PINS

Vise Technologies Inc. acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) in the second quarter, Holdings Channel reports. The institutional investor acquired 11,437 shares of the company’s stock, valued at approximately $410,000.

Several other hedge funds also recently bought and sold shares of the stock. Revolve Wealth Partners LLC acquired a new position in Pinterest during the 4th quarter worth about $252,000. Signaturefd LLC grew its holdings in shares of Pinterest by 18.2% in the first quarter. Signaturefd LLC now owns 9,795 shares of the company’s stock valued at $304,000 after purchasing an additional 1,509 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Pinterest by 2.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 932,088 shares of the company’s stock worth $28,895,000 after buying an additional 20,773 shares in the last quarter. Whittier Trust Co. boosted its position in Pinterest by 798.4% in the 1st quarter. Whittier Trust Co. now owns 1,707 shares of the company’s stock valued at $53,000 after buying an additional 1,517 shares during the period. Finally, Wealthfront Advisers LLC increased its position in shares of Pinterest by 2.7% during the first quarter. Wealthfront Advisers LLC now owns 61,050 shares of the company’s stock worth $1,893,000 after acquiring an additional 1,615 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total transaction of $3,558,613.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Andrea Acosta sold 3,759 shares of Pinterest stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $34.96, for a total transaction of $131,414.64. Following the completion of the transaction, the chief accounting officer owned 157,402 shares in the company, valued at approximately $5,502,773.92. This represents a 2.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 714,283 shares of company stock worth $24,869,450 over the last 90 days. Company insiders own 7.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Susquehanna restated a “positive” rating and set a $42.00 price target on shares of Pinterest in a report on Friday, August 8th. Cowen reiterated a “buy” rating on shares of Pinterest in a research note on Friday, August 8th. Stifel Nicolaus increased their price objective on shares of Pinterest from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Rosenblatt Securities reiterated a “neutral” rating and set a $30.00 target price (down previously from $49.00) on shares of Pinterest in a research note on Wednesday, November 5th. Finally, Cantor Fitzgerald cut their price target on Pinterest from $40.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $39.55.

Pinterest Stock Performance

Shares of PINS stock opened at $26.62 on Friday. The stock’s 50-day moving average is $32.57 and its two-hundred day moving average is $33.89. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90. The firm has a market cap of $17.98 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 1.57 and a beta of 0.96.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $665.93 million during the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%. As a group, research analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

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.