Truist Financial Corp Acquires 3,327 Shares of Pinterest, Inc. (NYSE:PINS)

Truist Financial Corp grew its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 4.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,638 shares of the company’s stock after purchasing an additional 3,327 shares during the quarter. Truist Financial Corp’s holdings in Pinterest were worth $3,730,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brown Shipley& Co Ltd acquired a new position in Pinterest during the second quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of Pinterest during the 2nd quarter valued at about $26,000. Hexagon Capital Partners LLC lifted its holdings in 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 purchasing an additional 459 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC bought a new stake in Pinterest during the second quarter worth approximately $35,000. Institutional investors own 88.81% of the company’s stock.

Insider Activity at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PINS. KeyCorp reduced their price objective on shares of Pinterest from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Wedbush cut their target price 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. JPMorgan Chase & Co. lowered their price target on Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. The Goldman Sachs Group boosted their price objective on Pinterest from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company decreased their target price on Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.25.

Pinterest Stock Performance

PINS opened at $32.93 on Wednesday. Pinterest, Inc. has a twelve month low of $23.59 and a twelve month high of $45.19. The firm has a market cap of $22.50 billion, a price-to-earnings ratio of 156.81, a PEG ratio of 2.56 and a beta of 1.01. The firm’s 50-day simple moving average is $30.86 and its 200-day simple moving average is $36.57.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share 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 firm had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

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.