B. Riley Wealth Management Inc. Has $585,000 Stock Position in Pinterest, Inc. (NYSE:PINS)

B. Riley Wealth Management Inc. lifted its stake in shares of Pinterest, Inc. (NYSE:PINS) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,415 shares of the company’s stock after purchasing an additional 199 shares during the quarter. B. Riley Wealth Management Inc.’s holdings in Pinterest were worth $585,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Eudaimonia Partners LLC bought a new stake in shares of Pinterest during the 1st quarter worth $25,000. Clearstead Advisors LLC raised its position in shares of Pinterest by 412.9% during the first quarter. Clearstead Advisors LLC now owns 359 shares of the company’s stock worth $27,000 after acquiring an additional 289 shares during the last quarter. TCI Wealth Advisors Inc. raised its position in shares of Pinterest by 350.6% during the second quarter. TCI Wealth Advisors Inc. now owns 392 shares of the company’s stock worth $31,000 after acquiring an additional 305 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Pinterest by 159.5% during the first quarter. Parkside Financial Bank & Trust now owns 436 shares of the company’s stock worth $32,000 after acquiring an additional 268 shares during the last quarter. Finally, BerganKDV Wealth Management LLC grew its stake in Pinterest by 86.9% during the second quarter. BerganKDV Wealth Management LLC now owns 542 shares of the company’s stock worth $43,000 after purchasing an additional 252 shares during the period. Institutional investors and hedge funds own 64.27% of the company’s stock.

In other news, General Counsel Christine Flores sold 13,082 shares of the company’s stock in a transaction dated Monday, June 28th. The stock was sold at an average price of $77.45, for a total value of $1,013,200.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Tseli Lily Yang sold 2,823 shares of the company’s stock in a transaction dated Monday, August 23rd. The stock was sold at an average price of $54.43, for a total value of $153,655.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 861,413 shares of company stock valued at $56,449,984. 8.45% of the stock is owned by company insiders.

Shares of PINS opened at $54.20 on Friday. The firm has a market cap of $34.94 billion, a PE ratio of 258.10 and a beta of 1.22. The stock’s fifty day moving average price is $59.15 and its two-hundred day moving average price is $66.69. Pinterest, Inc. has a 1 year low of $38.19 and a 1 year high of $89.90.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, July 29th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.36. The firm had revenue of $613.21 million for the quarter, compared to analyst estimates of $560.93 million. Pinterest had a return on equity of 12.09% and a net margin of 7.18%. On average, equities analysts forecast that Pinterest, Inc. will post 0.25 EPS for the current year.

A number of brokerages have commented on PINS. Argus cut Pinterest from a “buy” rating to a “hold” rating in a research note on Monday, August 30th. Rosenblatt Securities reduced their price objective on Pinterest from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, July 30th. MKM Partners reduced their price objective on Pinterest from $90.00 to $74.00 and set a “buy” rating for the company in a research note on Friday, July 30th. Susquehanna Bancshares reduced their price objective on Pinterest from $75.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, July 30th. Finally, Piper Sandler reduced their price objective on Pinterest from $76.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, July 30th. Thirteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $76.40.

About Pinterest

Pinterest, Inc engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. The company was founded by Benjamin Silbermann, Paul C. Sciarra, and Evan Sharp in October 2008 and is headquartered in San Francisco, CA.

Further Reading: Put Option

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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