CacheTech Inc. Purchases 1,682 Shares of Pinterest, Inc. (NYSE:PINS)

CacheTech Inc. raised its position in Pinterest, Inc. (NYSE:PINS) by 21.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,428 shares of the company’s stock after acquiring an additional 1,682 shares during the quarter. CacheTech Inc.’s holdings in Pinterest were worth $305,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Leibman Financial Services Inc. increased its position in Pinterest by 0.9% during the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock valued at $1,383,000 after purchasing an additional 266 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Pinterest by 5.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after purchasing an additional 313 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Pinterest by 1.1% during the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after buying an additional 319 shares during the period. Toronto Dominion Bank raised its stake in Pinterest by 0.7% in the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after buying an additional 372 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. lifted its holdings in Pinterest by 1.6% in the second quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock worth $1,022,000 after buying an additional 373 shares during the period. 88.81% of the stock is owned by institutional investors.

Pinterest Stock Up 0.8 %

Shares of PINS stock opened at $32.03 on Friday. The company has a 50 day moving average price of $31.74 and a 200-day moving average price of $36.32. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The firm has a market capitalization of $21.98 billion, a PE ratio of 118.63, a P/E/G ratio of 2.51 and a beta of 1.01.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) EPS. Analysts anticipate that Pinterest, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PINS. JPMorgan Chase & Co. decreased their target price on Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Barclays decreased their price objective on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and set a $45.00 price objective on shares of Pinterest in a research report on Friday, September 13th. KeyCorp upped their target price on shares of Pinterest from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their price target on shares of Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.56.

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.