Janney Montgomery Scott LLC Increases Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Janney Montgomery Scott LLC boosted its stake in Pinterest, Inc. (NYSE:PINS) by 73.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,034 shares of the company’s stock after acquiring an additional 37,829 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Pinterest were worth $2,760,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PINS. Optas LLC boosted its position in Pinterest by 8.1% in the 1st quarter. Optas LLC now owns 22,873 shares of the company’s stock valued at $709,000 after buying an additional 1,711 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Pinterest by 11.1% in the first quarter. Brighton Jones LLC now owns 11,803 shares of the company’s stock worth $366,000 after acquiring an additional 1,180 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Pinterest by 39.1% in the first quarter. Exchange Traded Concepts LLC now owns 81,427 shares of the company’s stock valued at $2,524,000 after purchasing an additional 22,882 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Pinterest by 21.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 112,201 shares of the company’s stock valued at $3,478,000 after purchasing an additional 19,552 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Pinterest during the 1st quarter worth approximately $222,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wolfe Research upgraded Pinterest from a “peer perform” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Thursday, May 15th. Wedbush reissued an “outperform” rating and set a $40.00 price objective (up from $38.00) on shares of Pinterest in a report on Friday, May 9th. Bank of America dropped their target price on shares of Pinterest from $46.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. raised shares of Pinterest from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $35.00 to $40.00 in a research report on Tuesday, June 3rd. Finally, Stifel Nicolaus decreased their price target on Pinterest from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and an average price target of $40.52.

Pinterest Trading Up 5.2%

Shares of NYSE:PINS opened at $35.76 on Wednesday. The firm’s 50 day moving average is $30.64 and its two-hundred day moving average is $31.67. The firm has a market capitalization of $24.25 billion, a P/E ratio of 13.05, a PEG ratio of 1.68 and a beta of 0.91. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19.

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

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total value of $31,050.00. Following the sale, the director now owns 26,786 shares of the company’s stock, valued at approximately $723,222. The trade was a 4.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $34.82, for a total value of $3,554,530.06. Following the transaction, the director now directly owns 8,414 shares of the company’s stock, valued at $292,975.48. This represents a 92.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,045,416 shares of company stock worth $34,519,739 in the last 90 days. Corporate insiders own 7.11% of the company’s stock.

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.