Calamos Wealth Management LLC Purchases 14,898 Shares of Pinterest, Inc. (NYSE:PINS)

Calamos Wealth Management LLC increased its holdings in Pinterest, Inc. (NYSE:PINS) by 7.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 222,743 shares of the company’s stock after buying an additional 14,898 shares during the quarter. Calamos Wealth Management LLC’s holdings in Pinterest were worth $9,816,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Corient Private Wealth LLC increased its position in Pinterest by 56.7% in the fourth quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock worth $3,570,000 after buying an additional 34,876 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Pinterest by 13.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock worth $15,598,000 after acquiring an additional 51,455 shares during the period. Contrarius Investment Management Ltd lifted its holdings in Pinterest by 300.0% during the fourth quarter. Contrarius Investment Management Ltd now owns 1,722,412 shares of the company’s stock valued at $63,798,000 after purchasing an additional 1,291,854 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Pinterest by 10.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 231,822 shares of the company’s stock worth $8,586,000 after purchasing an additional 22,101 shares during the period. Finally, Deltec Asset Management LLC purchased a new stake in shares of Pinterest in the first quarter worth $6,449,000. 88.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PINS has been the topic of a number of analyst reports. Citigroup lowered their target price on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Wolfe Research initiated coverage on Pinterest in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Susquehanna cut their target price on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research report on Wednesday, July 31st. The Goldman Sachs Group lifted their target price on Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Piper Sandler dropped their price target on Pinterest from $52.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Eight equities research 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.71.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the transaction, the chief financial officer now directly owns 362,822 shares in the company, valued at approximately $16,102,040.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the transaction, the chief financial officer now owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of Pinterest stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total value of $481,590.34. Following the completion of the sale, the insider now owns 307,256 shares of the company’s stock, valued at $12,726,543.52. The disclosure for this sale can be found here. Insiders have sold 48,316 shares of company stock valued at $2,109,592 in the last 90 days. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Up 1.0 %

Pinterest stock traded up $0.32 during midday trading on Friday, reaching $32.34. The stock had a trading volume of 5,598,757 shares, compared to its average volume of 9,930,240. The firm has a market cap of $22.19 billion, a price-to-earnings ratio of 154.01, a price-to-earnings-growth ratio of 3.45 and a beta of 0.97. The company has a fifty day moving average of $37.84 and a 200 day moving average of $37.61. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19.

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

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.