Evergreen Capital Management LLC Acquires New Shares in Pinterest, Inc. (NYSE:PINS)

Evergreen Capital Management LLC acquired a new stake in Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 5,295 shares of the company’s stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PINS. PNC Financial Services Group Inc. lifted its position in Pinterest by 17.4% in the 4th 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 in the last quarter. US Bancorp DE increased its stake in Pinterest by 113.0% in the 4th quarter. US Bancorp DE now owns 26,081 shares of the company’s stock worth $966,000 after buying an additional 13,835 shares in the last quarter. Advisory Services Network LLC increased its stake in Pinterest by 14.9% in the 4th quarter. Advisory Services Network LLC now owns 15,365 shares of the company’s stock worth $569,000 after buying an additional 1,994 shares in the last quarter. TD Asset Management Inc increased its stake in Pinterest by 197.8% in the 4th quarter. TD Asset Management Inc now owns 346,726 shares of the company’s stock worth $12,843,000 after buying an additional 230,280 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in Pinterest by 22.0% in the 4th quarter. Stifel Financial Corp now owns 153,588 shares of the company’s stock worth $5,689,000 after buying an additional 27,678 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PINS shares. Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a research report on Monday, September 23rd. They issued a “buy” rating and a $43.00 target price on the stock. Citigroup lowered their target price on Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Wolfe Research began coverage on shares of Pinterest in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Wednesday, July 31st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $48.00 target price on shares of Pinterest in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

Pinterest Stock Performance

NYSE PINS opened at $32.49 on Friday. The company has a market cap of $22.20 billion, a PE ratio of 154.71, a P/E/G ratio of 3.40 and a beta of 1.00. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19. The firm’s 50 day moving average price is $31.85 and its 200-day moving average price is $36.63.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. During the same period in the previous year, the company posted ($0.04) EPS. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, analysts forecast 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.