Cedar Wealth Management LLC Acquires 1,766 Shares of Pinterest, Inc. (NYSE:PINS)

Cedar Wealth Management LLC increased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 11.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,787 shares of the company’s stock after acquiring an additional 1,766 shares during the period. Cedar Wealth Management LLC’s holdings in Pinterest were worth $784,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PINS. Private Advisor Group LLC bought a new position in Pinterest in the fourth quarter valued at $367,000. Principal Securities Inc. acquired a new position in shares of Pinterest during the 4th quarter worth about $54,000. Janney Montgomery Scott LLC grew its holdings in shares of Pinterest by 67.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,441 shares of the company’s stock valued at $2,054,000 after acquiring an additional 22,397 shares in the last quarter. Quadrant Capital Group LLC grew 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 acquiring an additional 378 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Pinterest by 17.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,451 shares of the company’s stock valued at $572,000 after acquiring an additional 2,285 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Evercore ISI decreased their price target on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Wolfe Research began coverage on shares of Pinterest in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pinterest in a research report on Friday, September 13th. Robert W. Baird decreased their price objective on shares of Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $48.00 target price on shares of Pinterest in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.11% of the stock is owned by corporate insiders.

Pinterest Stock Up 2.1 %

PINS opened at $30.53 on Friday. Pinterest, Inc. has a twelve month low of $23.59 and a twelve month high of $45.19. The company has a fifty day moving average of $32.80 and a 200-day moving average of $36.77. The stock has a market cap of $20.86 billion, a PE ratio of 145.38, a price-to-earnings-growth ratio of 3.27 and a beta of 1.00.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The firm 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%. The business’s revenue was up 20.6% compared to the same quarter last year. During the same period last year, the business posted ($0.04) EPS. Sell-side analysts anticipate that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

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.