8,285 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI purchased a new position in Pinterest, Inc. (NYSE:PINS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,285 shares of the company’s stock, valued at approximately $365,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Leibman Financial Services Inc. raised its position in shares of Pinterest by 0.9% during the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after acquiring an additional 266 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Pinterest by 1.1% during the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock worth $1,323,000 after purchasing an additional 319 shares in the last quarter. Cornercap Investment Counsel Inc. lifted its position in shares of Pinterest by 1.6% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock worth $1,022,000 after buying an additional 373 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Pinterest by 40.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock valued at $48,000 after buying an additional 378 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Performance

PINS opened at $29.88 on Thursday. Pinterest, Inc. has a 1 year low of $23.59 and a 1 year high of $45.19. The company’s 50 day simple moving average is $33.03 and its 200 day simple moving average is $36.82. The stock has a market capitalization of $20.41 billion, a PE ratio of 142.29, a P/E/G ratio of 3.27 and a beta of 1.00.

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

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the completion of the sale, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PINS. Raymond James decreased their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Piper Sandler restated an “overweight” rating and set a $45.00 price target on shares of Pinterest in a research note on Friday, September 13th. JPMorgan Chase & Co. reduced their price objective on Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Stifel Nicolaus lowered their target price on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald assumed coverage on shares of Pinterest in a report on Thursday, September 5th. They issued an “overweight” rating and a $41.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.50.

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.