Hsbc Holdings PLC Raises Holdings in Pinterest, Inc. (NYSE:PINS)

Hsbc Holdings PLC raised its position in shares of Pinterest, Inc. (NYSE:PINS) by 28.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 479,080 shares of the company’s stock after acquiring an additional 107,096 shares during the period. Hsbc Holdings PLC owned approximately 0.07% of Pinterest worth $21,113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Shields Capital Management LLC purchased a new stake in shares of Pinterest during the 2nd quarter worth about $26,000. Hexagon Capital Partners LLC lifted its position in Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC grew its stake in Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Pinterest in the second quarter worth $35,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Pinterest in the 2nd quarter valued at $40,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PINS. Wedbush decreased their price target on shares of Pinterest from $46.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Robert W. Baird decreased their target price on Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Morgan Stanley raised their target price on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Benchmark restated a “hold” rating on shares of Pinterest in a report on Wednesday, July 31st. Finally, Barclays dropped their price objective on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.78.

Pinterest Stock Performance

NYSE PINS opened at $30.38 on Friday. Pinterest, Inc. has a one year low of $23.59 and a one year high of $45.19. The company has a 50-day simple moving average of $32.58 and a 200-day simple moving average of $36.73. The firm has a market capitalization of $20.85 billion, a PE ratio of 144.67, a price-to-earnings-growth ratio of 3.22 and a beta of 1.00.

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

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.11% of the stock is owned by company insiders.

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.