70,876 Shares in Pinterest, Inc. $PINS Bought by Wesbanco Bank Inc.

Wesbanco Bank Inc. purchased a new stake in shares of Pinterest, Inc. (NYSE:PINS) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 70,876 shares of the company’s stock, valued at approximately $2,280,000.

Other hedge funds have also modified their holdings of the company. Revolve Wealth Partners LLC acquired a new stake in shares of Pinterest during the fourth quarter worth about $252,000. Integrated Wealth Concepts LLC raised its position in Pinterest by 5.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company’s stock worth $339,000 after buying an additional 607 shares during the last quarter. Empowered Funds LLC raised its position in Pinterest by 45.6% during the 1st quarter. Empowered Funds LLC now owns 15,168 shares of the company’s stock worth $470,000 after buying an additional 4,748 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Pinterest by 39.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company’s stock valued at $335,000 after acquiring an additional 2,649 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Pinterest by 87.6% in the 2nd quarter. US Bancorp DE now owns 40,596 shares of the company’s stock valued at $1,456,000 after acquiring an additional 18,955 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total value of $590,151.06. Following the completion of the sale, the chief financial officer directly owned 540,358 shares in the company, valued at $13,973,657.88. The trade was a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Malik Ducard sold 2,293 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $22.06, for a total value of $50,583.58. Following the transaction, the insider owned 695,187 shares in the company, valued at $15,335,825.22. This trade represents a 0.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 33,407 shares of company stock worth $855,925. 7.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PINS. Monness Crespi & Hardt lowered shares of Pinterest from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 5th. Wedbush lowered shares of Pinterest from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $34.00 to $30.00 in a report on Monday, December 8th. Evercore reaffirmed an “outperform” rating on shares of Pinterest in a research report on Tuesday, January 27th. Sanford C. Bernstein reduced their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Finally, Zacks Research upgraded Pinterest from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.96.

Pinterest Stock Up 0.9%

NYSE:PINS opened at $20.33 on Wednesday. Pinterest, Inc. has a 52 week low of $19.05 and a 52 week high of $39.96. The stock’s 50-day moving average price is $25.25 and its 200-day moving average price is $30.30. The stock has a market capitalization of $13.73 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 0.88 and a beta of 0.92.

About Pinterest

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.