Tufton Capital Management Raises Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Tufton Capital Management lifted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 19.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,100 shares of the company’s stock after acquiring an additional 1,975 shares during the period. Tufton Capital Management’s holdings in Pinterest were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PINS. Cohanzick Management LLC purchased a new stake in Pinterest in the first quarter worth $25,000. Rakuten Securities Inc. purchased a new stake in Pinterest in the fourth quarter worth $30,000. Washington Trust Advisors Inc. increased its position in Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after buying an additional 326 shares during the last quarter. Clear Street Markets LLC purchased a new stake in Pinterest in the third quarter worth $41,000. Finally, Blue Trust Inc. increased its position in Pinterest by 87.7% in the fourth quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock worth $44,000 after buying an additional 557 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Stock Up 0.7 %

Shares of NYSE PINS traded up $0.22 during midday trading on Thursday, reaching $32.99. The company had a trading volume of 1,909,973 shares, compared to its average volume of 9,499,029. Pinterest, Inc. has a one year low of $20.60 and a one year high of $41.60. The firm’s fifty day moving average price is $35.03 and its 200-day moving average price is $33.94. The stock has a market cap of $22.40 billion, a PE ratio of -550.57, a price-to-earnings-growth ratio of 4.48 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. As a group, equities research analysts expect that Pinterest, Inc. will post 0.36 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. BMO Capital Markets started coverage on Pinterest in a research report on Tuesday, January 9th. They issued an “outperform” rating and a $45.00 target price for the company. Roth Mkm lifted their price target on Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Wedbush lifted their price target on Pinterest from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Stifel Nicolaus lifted their price target on Pinterest from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $48.00 price target on shares of Pinterest in a research report on Tuesday, March 26th. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.97.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the transaction, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the transaction, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the sale, the director now owns 74,215 shares in the company, valued at approximately $2,789,741.85. The disclosure for this sale can be found here. Insiders sold 184,471 shares of company stock valued at $6,525,231 in the last 90 days. Insiders own 6.85% of the company’s stock.

About Pinterest

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.