AlphaQuest LLC Sells 3,505 Shares of Pinterest, Inc. $PINS

AlphaQuest LLC lessened its stake in Pinterest, Inc. (NYSE:PINS) by 33.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,886 shares of the company’s stock after selling 3,505 shares during the period. AlphaQuest LLC’s holdings in Pinterest were worth $247,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. West Branch Capital LLC bought a new stake in Pinterest in the second quarter valued at approximately $36,000. Mather Group LLC. grew its holdings in shares of Pinterest by 133.5% in the first quarter. Mather Group LLC. now owns 1,310 shares of the company’s stock worth $41,000 after purchasing an additional 749 shares during the last quarter. LRI Investments LLC increased its stake in shares of Pinterest by 97.7% in the first quarter. LRI Investments LLC now owns 1,374 shares of the company’s stock worth $43,000 after buying an additional 679 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in Pinterest by 138.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,586 shares of the company’s stock valued at $57,000 after buying an additional 922 shares during the last quarter. Finally, Whittier Trust Co. boosted its position in Pinterest by 798.4% during the 1st quarter. Whittier Trust Co. now owns 1,707 shares of the company’s stock valued at $53,000 after buying an additional 1,517 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pinterest

In other news, CAO Andrea Acosta sold 3,759 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $34.96, for a total value of $131,414.64. Following the sale, the chief accounting officer directly owned 157,402 shares of the company’s stock, valued at $5,502,773.92. The trade was a 2.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $35.00, for a total value of $40,250.00. Following the completion of the sale, the director owned 30,600 shares in the company, valued at $1,071,000. The trade was a 3.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 640,236 shares of company stock valued at $22,878,326 over the last ninety days. Company insiders own 7.06% of the company’s stock.

Pinterest Price Performance

NYSE:PINS opened at $33.08 on Friday. The firm’s 50-day moving average price is $34.29 and its 200-day moving average price is $33.70. The company has a market capitalization of $22.49 billion, a PE ratio of 11.86, a P/E/G ratio of 1.44 and a beta of 0.81. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. The company had revenue of $665.93 million during the quarter. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. Equities analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Guggenheim reaffirmed a “buy” rating on shares of Pinterest in a research note on Tuesday, September 2nd. Citigroup reaffirmed a “buy” rating and set a $50.00 price target (up previously from $44.00) on shares of Pinterest in a research report on Friday, August 8th. Barclays lifted their price objective on Pinterest from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, August 8th. Mizuho assumed coverage on Pinterest in a research note on Monday, September 29th. They set an “outperform” rating and a $50.00 target price on the stock. Finally, Stifel Nicolaus raised their price target on Pinterest from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.67.

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.