FDx Advisors Inc. trimmed its holdings in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 24.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,581 shares of the company’s stock after selling 3,422 shares during the period. FDx Advisors Inc.’s holdings in Pinterest were worth $367,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. Legacy Capital Group California Inc. lifted its holdings in Pinterest by 1.7% during the 4th quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock worth $598,000 after buying an additional 267 shares during the last quarter. Venture Visionary Partners LLC raised its holdings in shares of Pinterest by 0.7% during the fourth quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock valued at $1,816,000 after buying an additional 324 shares during the last quarter. Washington Trust Advisors Inc. boosted its position in shares of Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after buying an additional 326 shares during the period. Creative Financial Designs Inc. ADV raised its stake in Pinterest by 0.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock valued at $1,701,000 after acquiring an additional 348 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Pinterest by 40.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock valued at $48,000 after purchasing an additional 378 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on PINS shares. Rosenblatt Securities reiterated a “buy” rating and set a $48.00 price objective (up previously from $45.00) on shares of Pinterest in a research note on Wednesday, May 1st. Loop Capital raised their price objective 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. 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. The Goldman Sachs Group lifted their target price on shares of Pinterest from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Sanford C. Bernstein lifted their target price on Pinterest from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.04.
Check Out Our Latest Research Report on Pinterest
Insider Activity at Pinterest
In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total transaction of $481,590.34. Following the transaction, the insider now owns 307,256 shares in the company, valued at approximately $12,726,543.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the transaction, the director now owns 31,646 shares in the company, valued at $1,055,077.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total transaction of $481,590.34. Following the completion of the sale, the insider now owns 307,256 shares in the company, valued at $12,726,543.52. The disclosure for this sale can be found here. Insiders sold 52,184 shares of company stock worth $2,255,783 in the last ninety days. 7.11% of the stock is owned by company insiders.
Pinterest Stock Down 1.5 %
Shares of NYSE PINS opened at $42.12 on Friday. The business’s 50 day moving average price is $42.72 and its two-hundred day moving average price is $38.27. The company has a market cap of $28.78 billion, a PE ratio of 200.58, a price-to-earnings-growth ratio of 4.17 and a beta of 0.97. Pinterest, Inc. has a twelve month low of $23.59 and a twelve month high of $45.19.
Pinterest (NYSE:PINS – Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.05. The firm had revenue of $739.98 million for the quarter, compared to the consensus estimate of $699.96 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. As a group, research analysts anticipate that Pinterest, Inc. will post 0.44 EPS for the current fiscal year.
About Pinterest
(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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