Pallas Capital Advisors LLC Invests $496,000 in Pinterest, Inc. (NYSE:PINS)

Pallas Capital Advisors LLC bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the third quarter, Holdings Channel reports. The fund bought 15,595 shares of the company’s stock, valued at approximately $496,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brown Shipley& Co Ltd acquired a new stake in shares of Pinterest during the second quarter worth $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of Pinterest during the second quarter valued at $26,000. Hexagon Capital Partners LLC grew its holdings in shares of 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 holdings in shares of Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in shares of Pinterest during the second quarter valued at $35,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PINS has been the topic of a number of research analyst reports. Oppenheimer initiated coverage on Pinterest in a report on Tuesday, September 24th. They set an “outperform” rating and a $45.00 price target on the stock. Citigroup lowered their price target on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus lowered their price target on Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Raymond James lowered their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Finally, Benchmark restated a “hold” rating 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.32.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the sale, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

Pinterest Stock Up 0.5 %

Pinterest stock opened at $32.58 on Thursday. The business has a 50 day moving average price of $31.75 and a two-hundred day moving average price of $36.39. The stock has a market cap of $22.26 billion, a price-to-earnings ratio of 155.14, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19.

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