Pinterest, Inc. (NYSE:PINS) Shares Purchased by IFP Advisors Inc

IFP Advisors Inc grew its stake in shares of Pinterest, Inc. (NYSE:PINS) by 715.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,280 shares of the company’s stock after acquiring an additional 34,463 shares during the quarter. IFP Advisors Inc’s holdings in Pinterest were worth $1,218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Revolve Wealth Partners LLC purchased a new position in Pinterest in the 4th quarter worth approximately $252,000. Virtu Financial LLC bought a new position in Pinterest during the fourth quarter worth $554,000. LPL Financial LLC increased its position in Pinterest by 3.6% in the fourth quarter. LPL Financial LLC now owns 438,427 shares of the company’s stock worth $12,714,000 after buying an additional 15,164 shares during the period. EntryPoint Capital LLC acquired a new stake in Pinterest in the fourth quarter worth $454,000. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Pinterest by 5.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 98,292 shares of the company’s stock worth $2,850,000 after acquiring an additional 5,139 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Price Performance

Shares of PINS stock opened at $37.87 on Thursday. The stock has a market cap of $25.68 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 1.88 and a beta of 0.94. The stock has a 50-day moving average of $34.44 and a 200-day moving average of $32.52. Pinterest, Inc. has a one year low of $23.68 and a one year high of $40.90.

Pinterest (NYSE:PINS) last released its quarterly 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). Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The firm had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. During the same period last year, the company earned $0.17 EPS. The company’s revenue was up 15.5% compared to the same quarter last year. As a group, research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PINS shares. Wells Fargo & Company set a $42.00 price target on Pinterest and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Morgan Stanley raised Pinterest from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $37.00 to $45.00 in a research note on Monday. Citigroup reissued a “buy” rating and issued a $44.00 price target (up previously from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th. Monness Crespi & Hardt dropped their price target on Pinterest from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Finally, Wedbush lifted their price target on Pinterest from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and a consensus target price of $41.71.

Insider Activity at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,510 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $35.68, for a total transaction of $410,676.80. Following the sale, the insider directly owned 390,230 shares of the company’s stock, valued at approximately $13,923,406.40. This represents a 2.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 29,606 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total value of $1,014,005.50. Following the sale, the chief financial officer directly owned 362,890 shares in the company, valued at approximately $12,428,982.50. This trade represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,400,528 shares of company stock worth $47,728,893. Insiders own 7.06% of the company’s stock.

Pinterest Company Profile

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.