Commonwealth Equity Services LLC boosted its holdings in Pinterest, Inc. (NYSE:PINS – Free Report) by 18.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,757 shares of the company’s stock after purchasing an additional 10,164 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Pinterest were worth $2,314,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in Pinterest in the 4th quarter worth approximately $27,000. Rakuten Securities Inc. bought a new position in Pinterest in the 4th quarter worth approximately $30,000. Washington Trust Advisors Inc. boosted its stake in 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 bought a new position in shares of Pinterest during the 4th quarter valued at approximately $43,000. Finally, Blue Trust Inc. boosted its position in shares of Pinterest by 87.7% during the 4th quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock valued at $44,000 after acquiring an additional 557 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.
Pinterest Stock Performance
Shares of NYSE PINS opened at $43.51 on Friday. The company has a market cap of $29.72 billion, a PE ratio of 207.20, a P/E/G ratio of 4.23 and a beta of 0.97. The business has a 50-day simple moving average of $42.25 and a two-hundred day simple moving average of $38.11. Pinterest, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $45.19.
Pinterest (NYSE:PINS – Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.05. The business had revenue of $739.98 million during the quarter, compared to the consensus estimate of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. On average, sell-side analysts predict that Pinterest, Inc. will post 0.44 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
PINS has been the subject of a number of research reports. Stifel Nicolaus increased their target price on Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. 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. Citigroup increased their target price on Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Wedbush increased their target price on Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, KeyCorp reduced their target price on Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.37.
View Our Latest Stock Report on Pinterest
Insiders Place Their Bets
In related news, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.90, for a total transaction of $168,795.50. Following the completion of the sale, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated 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 owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction dated 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 approximately $8,317,733. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,184 shares of company stock valued at $2,255,783. 7.11% of the stock is currently owned by corporate insiders.
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.
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