Pinterest, Inc. (NYSE:PINS) Shares Bought by Simplicity Solutions LLC

Simplicity Solutions LLC increased its position in Pinterest, Inc. (NYSE:PINS) by 24.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,953 shares of the company’s stock after acquiring an additional 1,972 shares during the quarter. Simplicity Solutions LLC’s holdings in Pinterest were worth $369,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Cohanzick Management LLC purchased a new stake in Pinterest during the first quarter worth $25,000. Washington Trust Advisors Inc. boosted 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 buying an additional 326 shares in the last quarter. Clear Street Markets LLC acquired a new stake in Pinterest in the 3rd quarter valued at about $41,000. Blue Trust Inc. grew its stake in Pinterest by 87.7% in 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. Finally, Stonebridge Capital Advisors LLC increased its holdings in Pinterest by 5,138.9% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,886 shares of the company’s stock valued at $46,000 after acquiring an additional 1,850 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the sale, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest 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 sale, the director now owns 34,215 shares in the company, valued at $1,200,262.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction 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 completion of the transaction, 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. In the last 90 days, insiders have sold 184,471 shares of company stock valued at $6,525,231. Company insiders own 6.85% of the company’s stock.

Pinterest Stock Down 1.5 %

NYSE PINS opened at $32.40 on Friday. Pinterest, Inc. has a 1-year low of $20.60 and a 1-year high of $41.60. The business’s 50-day simple moving average is $34.79 and its 200-day simple moving average is $33.97.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The firm had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. On average, equities research analysts predict that Pinterest, Inc. will post 0.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PINS. Wedbush upped their price target on shares of Pinterest from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 9th. JPMorgan Chase & Co. upped their target price on Pinterest from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Roth Mkm raised their price target on Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. KeyCorp upped their price objective on Pinterest from $37.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, February 5th. Finally, Stifel Nicolaus lifted their price objective on Pinterest from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and a consensus target price of $37.97.

About Pinterest

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.