Farther Finance Advisors LLC Purchases 8,138 Shares of Pinterest, Inc. (NYSE:PINS)

Farther Finance Advisors LLC increased its position in shares of Pinterest, Inc. (NYSE:PINS) by 642.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,404 shares of the company’s stock after acquiring an additional 8,138 shares during the quarter. Farther Finance Advisors LLC’s holdings in Pinterest were worth $292,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PINS. OLD National Bancorp IN lifted its position in shares of Pinterest by 1.8% in the first quarter. OLD National Bancorp IN now owns 456,367 shares of the company’s stock worth $14,147,000 after purchasing an additional 8,268 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Pinterest in the first quarter worth $208,000. Radnor Capital Management LLC bought a new stake in shares of Pinterest in the first quarter worth $751,000. Lifestyle Asset Management Inc. bought a new stake in Pinterest during the first quarter worth $911,000. Finally, Hennion & Walsh Asset Management Inc. raised its position in Pinterest by 44.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 23,690 shares of the company’s stock worth $734,000 after acquiring an additional 7,299 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In other Pinterest news, insider Wanjiku Juanita Walcott sold 12,253 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $32.24, for a total value of $395,036.72. Following the sale, the insider now owns 228,510 shares of the company’s stock, valued at $7,367,162.40. This trade represents a 5.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $34.81, for a total transaction of $3,553,509.23. Following the completion of the sale, the director now directly owns 8,414 shares in the company, valued at approximately $292,891.34. This trade represents a 92.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,075,021 shares of company stock valued at $35,411,517. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

Pinterest stock opened at $34.53 on Wednesday. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The stock has a market cap of $23.42 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.74 and a beta of 0.91. The firm’s 50-day simple moving average is $29.82 and its 200 day simple moving average is $31.57.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to analysts’ expectations of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 earnings per share. As a group, analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Stifel Nicolaus decreased their price objective on shares of Pinterest from $50.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Piper Sandler dropped their price objective on shares of Pinterest from $41.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Monness Crespi & Hardt decreased their target price on shares of Pinterest from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, May 9th. BMO Capital Markets decreased their price target on shares of Pinterest from $46.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. Finally, Barclays decreased their price target on shares of Pinterest from $42.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, May 9th. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and an average price target of $40.42.

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.