B. Riley Wealth Advisors Inc. Acquires New Holdings in Pinterest, Inc. (NYSE:PINS)

B. Riley Wealth Advisors Inc. bought a new position in Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 4,699 shares of the company’s stock, valued at approximately $207,000.

Several other large investors have also recently bought and sold shares of PINS. Wellington Shields Capital Management LLC purchased a new stake in shares of Pinterest in the second quarter worth $26,000. Hexagon Capital Partners LLC increased its stake 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 acquiring an additional 459 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after acquiring an additional 405 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Pinterest during the 2nd quarter valued at about $35,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Pinterest during the second quarter worth about $40,000. 88.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PINS. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 target price on shares of Pinterest in a research report on Thursday, September 12th. The Goldman Sachs Group upped their target price on shares of Pinterest from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Robert W. Baird reduced their target price on Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Susquehanna dropped their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research note on Wednesday, July 31st. Finally, Wedbush reduced their price objective on Pinterest from $46.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.32.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

Shares of PINS stock opened at $33.84 on Thursday. Pinterest, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $45.19. The firm has a market cap of $23.12 billion, a P/E ratio of 161.14, a P/E/G ratio of 2.56 and a beta of 1.01. The business’s 50 day moving average price is $30.90 and its 200-day moving average price is $36.57.

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