First Trust Advisors LP Boosts Position in Pinterest, Inc. $PINS

First Trust Advisors LP increased its position in shares of Pinterest, Inc. (NYSE:PINS) by 1,549.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,379,815 shares of the company’s stock after acquiring an additional 1,296,169 shares during the quarter. First Trust Advisors LP owned approximately 0.20% of Pinterest worth $49,480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of PINS. Penserra Capital Management LLC raised its stake in Pinterest by 10.1% during the second quarter. Penserra Capital Management LLC now owns 3,259 shares of the company’s stock worth $115,000 after purchasing an additional 300 shares during the period. Baltimore Washington Financial Advisors Inc. increased its holdings in shares of Pinterest by 3.6% during the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock worth $369,000 after buying an additional 359 shares during the last quarter. TD Private Client Wealth LLC raised its position in shares of Pinterest by 16.5% during the 2nd quarter. TD Private Client Wealth LLC now owns 2,623 shares of the company’s stock valued at $94,000 after buying an additional 371 shares during the period. Whittier Trust Co. lifted its holdings in Pinterest by 22.3% in the second quarter. Whittier Trust Co. now owns 2,088 shares of the company’s stock valued at $75,000 after acquiring an additional 381 shares during the last quarter. Finally, Prospera Financial Services Inc grew its position in Pinterest by 1.0% in the second quarter. Prospera Financial Services Inc now owns 40,444 shares of the company’s stock worth $1,450,000 after acquiring an additional 399 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Price Performance

NYSE PINS opened at $27.16 on Tuesday. The company has a market cap of $18.35 billion, a P/E ratio of 9.43, a P/E/G ratio of 1.70 and a beta of 0.89. The stock has a 50-day moving average of $29.60 and a two-hundred day moving average of $33.48. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The business had revenue of $665.93 million during the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. On average, analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on PINS. Monness Crespi & Hardt downgraded Pinterest from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. reduced their price objective on shares of Pinterest from $44.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Bank of America lowered their target price on shares of Pinterest from $44.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Evercore ISI dropped their price target on shares of Pinterest from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Finally, Benchmark decreased their price objective on shares of Pinterest from $48.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.97.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total transaction of $795,311.85. Following the sale, the chief financial officer owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. This represents a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of Pinterest stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the transaction, the insider owned 301,214 shares of the company’s stock, valued at approximately $8,099,644.46. This trade represents a 19.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 403,125 shares of company stock worth $13,669,759 over the last 90 days. Corporate insiders own 7.11% 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.