Allspring Global Investments Holdings LLC increased its position in Pinterest, Inc. (NYSE:PINS – Free Report) by 195.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,151 shares of the company’s stock after purchasing an additional 1,422 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Pinterest were worth $75,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Capital Group California Inc. grew its stake in Pinterest by 1.7% in the fourth quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock worth $598,000 after purchasing an additional 267 shares during the period. Venture Visionary Partners LLC grew its stake in shares of Pinterest by 0.7% in the fourth quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock worth $1,816,000 after acquiring an additional 324 shares during the last quarter. Washington Trust Advisors Inc. grew its stake in shares of 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 acquiring an additional 326 shares during the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Pinterest by 0.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock worth $1,701,000 after acquiring an additional 348 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Pinterest by 40.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after acquiring an additional 378 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.
Pinterest Price Performance
NYSE:PINS opened at $41.29 on Friday. The firm has a market capitalization of $28.21 billion, a price-to-earnings ratio of 196.63, a PEG ratio of 4.17 and a beta of 0.97. Pinterest, Inc. has a 1 year low of $23.59 and a 1 year high of $45.19. The business has a 50 day simple moving average of $42.74 and a 200-day simple moving average of $38.29.
Pinterest (NYSE:PINS – Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.05. The business had revenue of $739.98 million during the quarter, compared to analyst estimates of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. As a group, analysts expect that Pinterest, Inc. will post 0.44 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Roth Mkm increased their target price on Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. upped their price target on Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Wells Fargo & Company upped their price target on Pinterest from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, June 25th. Wedbush increased their target price on Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group increased their target price on Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.04.
View Our Latest Stock Report on PINS
Insider Activity
In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the sale, the chief accounting officer now directly owns 189,470 shares of the company’s stock, valued at $8,317,733. The disclosure for this sale can be found here. Insiders sold 52,184 shares of company stock valued at $2,255,783 in the last ninety days. Insiders own 7.11% of the company’s stock.
Pinterest 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
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