Banque Pictet & Cie SA Invests $334,000 in Pinterest, Inc. (NYSE:PINS)

Banque Pictet & Cie SA purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,510 shares of the company’s stock, valued at approximately $334,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its position in Pinterest by 5.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock worth $205,000 after purchasing an additional 313 shares in the last quarter. Hantz Financial Services Inc. increased its position in Pinterest by 3.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after purchasing an additional 339 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Pinterest by 2.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock worth $366,000 after purchasing an additional 342 shares in the last quarter. Commerce Bank increased its position in Pinterest by 3.3% during the 3rd quarter. Commerce Bank now owns 11,868 shares of the company’s stock worth $384,000 after purchasing an additional 378 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after acquiring an additional 415 shares during the period. Institutional investors own 88.81% of the company’s stock.

Insider Activity

In other news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the sale, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. This represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock worth $589,131 over the last quarter. Insiders own 7.11% of the company’s stock.

Pinterest Trading Down 0.3 %

Pinterest stock opened at $38.96 on Friday. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The firm has a market capitalization of $26.33 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. The firm’s fifty day moving average price is $32.19 and its two-hundred day moving average price is $31.55.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 9.20%. On average, research analysts forecast that Pinterest, Inc. will post 0.59 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Friday, February 7th. Barclays upped their price target on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Sanford C. Bernstein upgraded shares of Pinterest from a “market perform” rating to an “outperform” rating and upped their price target for the company from $34.00 to $47.00 in a research report on Friday, February 7th. Piper Sandler restated a “neutral” rating and issued a $41.00 price target (up from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $50.00 price target (up from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and a consensus price target of $43.86.

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.