Hsbc Holdings PLC Boosts Stake in Pinterest, Inc. $PINS

Hsbc Holdings PLC grew its position in shares of Pinterest, Inc. (NYSE:PINS) by 40.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 834,914 shares of the company’s stock after buying an additional 241,154 shares during the quarter. Hsbc Holdings PLC’s holdings in Pinterest were worth $21,596,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Elevated Capital Advisors LLC purchased a new stake in shares of Pinterest during the fourth quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd boosted its position in Pinterest by 2,017.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after purchasing an additional 1,049 shares during the last quarter. Addison Advisors LLC boosted its position in Pinterest by 727.3% in the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after purchasing an additional 1,200 shares during the last quarter. Garner Asset Management Corp bought a new position in Pinterest in the 4th quarter valued at $36,000. Finally, Fifth Third Bancorp grew its stake in Pinterest by 2,409.1% in the 3rd quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock valued at $44,000 after purchasing an additional 1,325 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Up 1.8%

Shares of NYSE PINS opened at $19.88 on Thursday. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. The business’s fifty day moving average price is $20.34 and its 200-day moving average price is $21.27. The stock has a market capitalization of $11.14 billion, a PE ratio of 41.43, a P/E/G ratio of 1.12 and a beta of 0.92.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. During the same quarter in the prior year, the company earned $0.23 EPS. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.65 EPS for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 46,875 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $21.15, for a total transaction of $991,406.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of Pinterest stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $20.46, for a total transaction of $559,315.02. Following the completion of the transaction, the insider owned 724,673 shares of the company’s stock, valued at $14,826,809.58. The trade was a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 171,112 shares of company stock valued at $3,595,596 over the last three months. 8.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PINS has been the topic of a number of recent analyst reports. Oppenheimer lifted their target price on Pinterest from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. BMO Capital Markets restated an “outperform” rating and set a $30.00 price target on shares of Pinterest in a research report on Tuesday, May 5th. Citigroup raised their price objective on shares of Pinterest from $19.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Barclays lifted their price objective on shares of Pinterest from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Finally, TD Cowen reiterated a “buy” rating on shares of Pinterest in a research note on Monday. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.40.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.