Shell Asset Management Co. Purchases 1,676 Shares of Pinterest, Inc. (NYSE:PINS)

Shell Asset Management Co. increased its position in shares of Pinterest, Inc. (NYSE:PINSGet Rating) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,198 shares of the company’s stock after purchasing an additional 1,676 shares during the quarter. Shell Asset Management Co.’s holdings in Pinterest were worth $596,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arizona State Retirement System raised its stake in Pinterest by 1.5% during the first quarter. Arizona State Retirement System now owns 154,404 shares of the company’s stock worth $3,800,000 after acquiring an additional 2,351 shares in the last quarter. Bellecapital International Ltd. acquired a new position in Pinterest during the first quarter worth about $252,000. State of New Jersey Common Pension Fund D raised its stake in Pinterest by 3.5% during the first quarter. State of New Jersey Common Pension Fund D now owns 338,778 shares of the company’s stock worth $8,337,000 after acquiring an additional 11,552 shares in the last quarter. Bourgeon Capital Management LLC acquired a new position in Pinterest during the first quarter worth about $92,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in Pinterest by 91.9% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 50,950 shares of the company’s stock worth $1,255,000 after acquiring an additional 24,399 shares in the last quarter. Institutional investors own 63.76% of the company’s stock.

Pinterest Stock Up 11.6 %

Shares of PINS opened at $22.31 on Wednesday. Pinterest, Inc. has a 12-month low of $16.14 and a 12-month high of $66.00. The business’s fifty day moving average is $19.40 and its 200 day moving average is $22.71. The stock has a market cap of $14.80 billion, a P/E ratio of 46.48, a P/E/G ratio of 5.48 and a beta of 1.19.

Pinterest (NYSE:PINSGet Rating) last issued its earnings results on Monday, August 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Pinterest had a return on equity of 12.69% and a net margin of 12.48%. The firm had revenue of $666.00 million during the quarter, compared to the consensus estimate of $663.19 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. Pinterest’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts expect that Pinterest, Inc. will post 0.24 EPS for the current year.

Insider Buying and Selling

In other Pinterest news, Director Evan Sharp sold 422,399 shares of the firm’s stock in a transaction on Friday, June 17th. The stock was sold at an average price of $17.52, for a total transaction of $7,400,430.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Pinterest news, CFO Todd R. Morgenfeld sold 55,241 shares of the firm’s stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $20.12, for a total transaction of $1,111,448.92. Following the transaction, the chief financial officer now directly owns 641,025 shares in the company, valued at approximately $12,897,423. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Evan Sharp sold 422,399 shares of the firm’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $17.52, for a total value of $7,400,430.48. The disclosure for this sale can be found here. Insiders have sold a total of 548,619 shares of company stock worth $10,307,146 in the last ninety days. Corporate insiders own 7.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup boosted their target price on Pinterest from $24.00 to $25.00 and gave the stock a “maintains” rating in a research note on Tuesday. DA Davidson lowered their price objective on Pinterest from $33.00 to $20.00 in a research note on Thursday, April 28th. Susquehanna Bancshares raised Pinterest to a “positive” rating and upped their price objective for the company from $22.00 to $35.00 in a research note on Tuesday. Atlantic Securities set a $22.00 price objective on Pinterest in a research note on Tuesday, July 19th. Finally, Rosenblatt Securities assumed coverage on Pinterest in a research note on Tuesday, April 19th. They issued a “neutral” rating and a $21.00 price objective for the company. Fifteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $29.60.

About Pinterest

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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