Catalyst Funds Management Pty Ltd Purchases Shares of 26,200 Pinterest, Inc. $PINS

Catalyst Funds Management Pty Ltd purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 26,200 shares of the company’s stock, valued at approximately $940,000.

Several other large investors also recently made changes to their positions in the stock. Golden State Wealth Management LLC increased its holdings in Pinterest by 282.7% during the second quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after buying an additional 506 shares during the last quarter. West Branch Capital LLC bought a new position in shares of Pinterest in the 2nd quarter valued at about $36,000. Wellington Shields Capital Management LLC acquired a new position in shares of Pinterest during the 2nd quarter worth about $40,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Pinterest by 138.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,586 shares of the company’s stock worth $57,000 after purchasing an additional 922 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Pinterest in the 1st quarter valued at about $56,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Activity

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total transaction of $795,311.85. Following the transaction, the chief financial officer owned 312,422 shares in the company, valued at $10,887,906.70. This trade represents a 6.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of Pinterest stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the transaction, the insider directly owned 301,214 shares of the company’s stock, valued at $8,099,644.46. This represents a 19.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 607,291 shares of company stock worth $21,128,964. Corporate insiders own 7.06% of the company’s stock.

Pinterest Trading Down 2.7%

NYSE:PINS opened at $24.81 on Friday. The stock has a market cap of $16.76 billion, a P/E ratio of 8.61, a PEG ratio of 1.54 and a beta of 0.96. The stock has a 50 day simple moving average of $31.71 and a 200 day simple moving average of $33.82. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Mizuho initiated coverage on Pinterest in a report on Monday, September 29th. They set an “outperform” rating and a $50.00 price target for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $33.00 price objective (down from $35.00) on shares of Pinterest in a research report on Wednesday, November 5th. Cantor Fitzgerald reduced their target price on Pinterest from $40.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Citigroup restated a “buy” rating on shares of Pinterest in a research note on Wednesday, November 5th. Finally, Sanford C. Bernstein reduced their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.55.

Pinterest 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.