SG Americas Securities LLC Acquires 57,269 Shares of Pinterest, Inc. (NYSE:PINS)

SG Americas Securities LLC grew its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 389.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 71,977 shares of the company's stock after buying an additional 57,269 shares during the quarter. SG Americas Securities LLC's holdings in Pinterest were worth $2,330,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PINS. Brown Shipley& Co Ltd acquired a new position in shares of Pinterest during the second quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new position in Pinterest during the 2nd quarter worth about $26,000. Hexagon Capital Partners LLC grew its position in shares of Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company's stock valued at $33,000 after buying an additional 459 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company's stock worth $34,000 after acquiring an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new position in shares of Pinterest in the second quarter worth approximately $35,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Stock Up 1.1 %

Pinterest stock traded up $0.35 during midday trading on Tuesday, hitting $32.93. 4,836,449 shares of the stock were exchanged, compared to its average volume of 9,521,948. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19. The business's 50-day moving average price is $30.95 and its 200-day moving average price is $36.58. The stock has a market capitalization of $22.60 billion, a price-to-earnings ratio of 157.10, a price-to-earnings-growth ratio of 2.56 and a beta of 1.01.

Pinterest (NYSE:PINS - Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating 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 last year, the firm posted ($0.04) EPS. The business's revenue was up 20.6% compared to the same quarter last year. On average, sell-side analysts predict that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares of the company's stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wedbush lowered their price target on shares of Pinterest from $46.00 to $37.00 and set a "neutral" rating for the company in a report on Wednesday, July 31st. Oppenheimer initiated coverage on shares of Pinterest in a research note on Tuesday, September 24th. They set an "outperform" rating and a $45.00 target price for the company. Piper Sandler reaffirmed an "overweight" rating and set a $45.00 price target on shares of Pinterest in a research report on Friday, September 13th. JPMorgan Chase & Co. lowered their price objective on Pinterest from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, July 31st. Finally, UBS Group dropped their price objective on Pinterest from $57.00 to $52.00 and set a "buy" rating on the stock 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.25.

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.