Allstate Corp Purchases New Shares in Pinterest, Inc. (NYSE:PINS)

Allstate Corp acquired a new position in Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,639 shares of the company’s stock, valued at approximately $512,000.

Several other hedge funds have also modified their holdings of the company. Cerity Partners LLC grew its stake in Pinterest by 63.4% in the 3rd quarter. Cerity Partners LLC now owns 52,357 shares of the company’s stock valued at $1,695,000 after acquiring an additional 20,310 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Pinterest by 0.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,982 shares of the company’s stock valued at $4,013,000 after purchasing an additional 1,008 shares during the period. Hantz Financial Services Inc. grew its position in shares of Pinterest by 3.7% in the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after purchasing an additional 339 shares during the period. Captrust Financial Advisors raised its position in shares of Pinterest by 23.9% during the 3rd quarter. Captrust Financial Advisors now owns 50,406 shares of the company’s stock worth $1,632,000 after purchasing an additional 9,730 shares during the last quarter. Finally, Paloma Partners Management Co lifted its stake in Pinterest by 1,328.6% in the 3rd quarter. Paloma Partners Management Co now owns 60,000 shares of the company’s stock valued at $1,942,000 after buying an additional 55,800 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Trading Up 0.1 %

PINS stock opened at $31.02 on Wednesday. The business’s fifty day moving average price is $34.65 and its 200 day moving average price is $32.44. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The company has a market capitalization of $21.04 billion, a PE ratio of 11.53, a P/E/G ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last issued 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 return on equity of 8.10% and a net margin of 51.07%. Research analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PINS has been the subject of a number of research analyst reports. KeyCorp reduced their target price on Pinterest from $46.00 to $41.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Royal Bank of Canada raised their price objective on Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 target price (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Raymond James raised their price target on shares of Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Roth Capital set a $32.00 price objective on shares of Pinterest in a research note on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Insider Buying and Selling at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total value of $3,180,906.28. Following the sale, the director now owns 6,274 shares of the company’s stock, valued at $195,497.84. This trade represents a 94.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the transaction, the director now owns 30,236 shares of the company’s stock, valued at $920,081.48. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 351,753 shares of company stock valued at $11,640,201 in the last 90 days. Company 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.