Los Angeles Capital Management LLC decreased its holdings in Pinterest, Inc. (NYSE:PINS – Free Report) by 99.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,014 shares of the company’s stock after selling 1,406,244 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Pinterest were worth $486,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in PINS. GAMMA Investing LLC purchased a new stake in shares of Pinterest in the 4th quarter worth about $27,000. Rakuten Securities Inc. purchased a new stake in shares of Pinterest in the 4th quarter worth about $30,000. Washington Trust Advisors Inc. lifted its position in shares of Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Pinterest in the 4th quarter worth about $43,000. Finally, Blue Trust Inc. lifted its position in shares of Pinterest by 87.7% in the 4th quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock worth $44,000 after purchasing an additional 557 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.
Pinterest Stock Up 4.3 %
Shares of PINS stock opened at $44.97 on Wednesday. The company has a 50 day moving average price of $40.54 and a 200-day moving average price of $37.72. Pinterest, Inc. has a 52 week low of $23.59 and a 52 week high of $45.19. The firm has a market capitalization of $30.72 billion, a PE ratio of 214.15, a P/E/G ratio of 4.28 and a beta of 0.97.
Pinterest (NYSE:PINS – Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The firm had revenue of $739.98 million during the quarter, compared to analyst estimates of $699.96 million. Analysts anticipate that Pinterest, Inc. will post 0.44 earnings per share for the current year.
Insider Activity at Pinterest
In related news, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $35.08, for a total transaction of $701,600.00. Following the completion of the sale, the director now directly owns 34,215 shares in the company, valued at $1,200,262.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $35.08, for a total transaction of $701,600.00. Following the completion of the sale, the director now directly owns 34,215 shares in the company, valued at $1,200,262.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the sale, the director now owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,904 shares of company stock worth $1,613,557. 7.11% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. Sanford C. Bernstein raised their target price on shares of Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 1st. Loop Capital lifted their price target on shares of Pinterest from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Stifel Nicolaus lifted their price target on shares of Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. KeyCorp lowered their price target on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Finally, Citigroup lifted their price target on shares of Pinterest from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.37.
Read Our Latest Analysis on PINS
Pinterest Company Profile
(Free Report)
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.
Further Reading
Receive News & Ratings for Pinterest Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Pinterest and related companies with MarketBeat.com’s FREE daily email newsletter.
