Deltec Asset Management LLC Takes Position in Pinterest, Inc. (NYSE:PINS)

Deltec Asset Management LLC acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 186,000 shares of the company’s stock, valued at approximately $6,449,000. Pinterest makes up about 1.3% of Deltec Asset Management LLC’s holdings, making the stock its 22nd largest position.

A number of other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new position in shares of Pinterest during the 4th quarter worth approximately $27,000. Rakuten Securities Inc. acquired a new position in shares of Pinterest in the fourth quarter worth $30,000. Washington Trust Advisors Inc. lifted its position in shares of Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Pinterest during the fourth quarter valued at $43,000. Finally, Blue Trust Inc. increased its position in Pinterest by 87.7% during the 4th quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock worth $44,000 after purchasing an additional 557 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on PINS. Stifel Nicolaus upped their target price on shares of Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Piper Sandler reissued an “overweight” rating and set a $52.00 price target on shares of Pinterest in a research note on Friday, June 14th. BMO Capital Markets lifted their price objective on Pinterest from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.37.

Insiders Place Their Bets

In other news, CAO Andrea Acosta sold 2,564 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the sale, the chief accounting officer now directly owns 186,906 shares in the company, valued at approximately $8,410,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Andrea Acosta sold 2,564 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the transaction, the chief accounting officer now directly owns 186,906 shares in the company, valued at $8,410,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total transaction of $81,711.50. Following the sale, the director now owns 29,712 shares of the company’s stock, valued at approximately $1,255,332. The disclosure for this sale can be found here. Insiders have sold a total of 41,904 shares of company stock valued at $1,613,557 in the last quarter. Insiders own 7.11% of the company’s stock.

Pinterest Price Performance

PINS traded down $0.05 during trading on Friday, hitting $44.07. The company had a trading volume of 7,608,042 shares, compared to its average volume of 6,950,023. Pinterest, Inc. has a 1-year low of $23.59 and a 1-year high of $45.19. The company has a market cap of $30.11 billion, a PE ratio of 209.87, a P/E/G ratio of 4.32 and a beta of 0.97. The business has a 50-day moving average of $41.22 and a 200-day moving average of $37.89.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. The business had revenue of $739.98 million for the quarter, compared to analyst estimates of $699.96 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. Research analysts forecast that Pinterest, Inc. will post 0.44 earnings per share for the current year.

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.