Chase Investment Counsel Corp Makes New Investment in Pinterest, Inc. (NYSE:PINS)

Chase Investment Counsel Corp acquired a new position in Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 188,604 shares of the company’s stock, valued at approximately $5,469,000. Pinterest accounts for approximately 1.8% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 20th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. boosted its holdings in Pinterest by 3.7% in the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after purchasing an additional 339 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Pinterest by 2.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock worth $366,000 after purchasing an additional 342 shares during the period. Amalgamated Bank boosted its holdings in Pinterest by 0.9% in the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock worth $1,154,000 after purchasing an additional 372 shares during the period. Commerce Bank boosted its holdings in Pinterest by 3.3% in the third quarter. Commerce Bank now owns 11,868 shares of the company’s stock worth $384,000 after purchasing an additional 378 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Trading Up 2.3 %

PINS stock opened at $37.02 on Friday. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The firm has a market capitalization of $25.10 billion, a PE ratio of 13.76, a P/E/G ratio of 1.95 and a beta of 1.06. The firm has a 50-day moving average of $33.44 and a two-hundred day moving average of $32.05.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PINS shares. Rosenblatt Securities boosted their price target on shares of Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 7th. Roth Mkm lowered their price target on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. TD Cowen started coverage on shares of Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price target for the company. Wedbush upped their price target on shares of Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group upped their price target on shares of Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.47.

Insider Buying and Selling at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the sale, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the sale, the director now directly owns 29,086 shares of the company’s stock, valued at $1,139,880.34. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,117 shares of company stock valued at $253,056. 7.11% of the stock is currently owned by corporate insiders.

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.