Bank of Montreal Can Grows Stock Position in Pinterest, Inc. (NYSE:PINS)

Bank of Montreal Can boosted its position in shares of Pinterest, Inc. (NYSE:PINS) by 17.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 540,308 shares of the company’s stock after acquiring an additional 78,386 shares during the quarter. Bank of Montreal Can’s holdings in Pinterest were worth $24,314,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Leibman Financial Services Inc. grew its stake in shares of Pinterest by 0.9% in the second quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after purchasing an additional 266 shares during the last quarter. Raymond James Trust N.A. increased its stake in shares of Pinterest by 1.1% during the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after buying an additional 319 shares during the period. Cornercap Investment Counsel Inc. increased its position in Pinterest by 1.6% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock valued at $1,022,000 after purchasing an additional 373 shares during the period. GAMMA Investing LLC raised its stake in Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its position in shares of Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after acquiring an additional 459 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Price Performance

NYSE:PINS opened at $32.49 on Friday. The firm has a market capitalization of $22.20 billion, a price-to-earnings ratio of 154.71, a PEG ratio of 3.40 and a beta of 1.00. The business has a 50 day simple moving average of $31.85 and a 200-day simple moving average of $36.63. Pinterest, Inc. has a 1 year low of $23.59 and a 1 year high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The company had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. During the same period in the previous year, the firm earned ($0.04) earnings per share. Pinterest’s quarterly revenue was up 20.6% compared to the same quarter last year. As a group, analysts expect that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PINS shares. Royal Bank of Canada reissued an “outperform” rating and set a $48.00 price target on shares of Pinterest in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 price objective on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pinterest in a research report on Friday, September 13th. Citigroup reduced their price objective on Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.25.

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.