20,000 Shares in Pinterest, Inc. (NYSE:PINS) Bought by Cumberland Partners Ltd

Key Points

• Cumberland Partners Ltd acquired 20,000 shares of Pinterest, Inc. (NYSE:PINS), valued at approximately $620,000, in the first quarter.
• Pinterest's recent earnings report revealed earnings per share (EPS) of $0.23, missing the consensus estimate of $0.25, while revenue increased 15.5% year-over-year.
• Several institutional investors have significantly increased their stakes in Pinterest, contributing to 88.81% of the stock being owned by hedge funds and other institutional investors.

Cumberland Partners Ltd purchased a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 20,000 shares of the company's stock, valued at approximately $620,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Redwood Investment Management LLC raised its stake in shares of Pinterest by 3.2% in the 4th quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock valued at $463,000 after purchasing an additional 495 shares in the last quarter. NorthRock Partners LLC raised its stake in Pinterest by 4.7% during the first quarter. NorthRock Partners LLC now owns 11,246 shares of the company's stock worth $349,000 after acquiring an additional 502 shares during the period. EP Wealth Advisors LLC raised its stake in Pinterest by 9.3% during the fourth quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock worth $223,000 after acquiring an additional 656 shares during the period. SteelPeak Wealth LLC raised its stake in Pinterest by 1.5% during the first quarter. SteelPeak Wealth LLC now owns 46,613 shares of the company's stock worth $1,445,000 after acquiring an additional 670 shares during the period. Finally, LRI Investments LLC raised its stake in Pinterest by 97.7% during the first quarter. LRI Investments LLC now owns 1,374 shares of the company's stock worth $43,000 after acquiring an additional 679 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Price Performance

Pinterest stock opened at $37.76 on Friday. The firm has a 50 day simple moving average of $35.30 and a 200-day simple moving average of $32.88. The stock has a market capitalization of $25.61 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.89 and a beta of 0.78. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The company's revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share. On average, analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on PINS. Citigroup reiterated a "buy" rating and set a $44.00 price objective (up previously from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th. Bank of America dropped their price objective on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. upgraded shares of Pinterest from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $35.00 to $40.00 in a research note on Tuesday, June 3rd. TD Cowen increased their price objective on shares of Pinterest from $40.00 to $43.00 and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Finally, KeyCorp increased their price objective on shares of Pinterest from $40.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Five investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $41.48.

Insider Activity

In other news, Director Benjamin Silbermann sold 408,332 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total value of $13,540,289.12. Following the completion of the transaction, the director directly owned 6,274 shares in the company, valued at $208,045.84. This trade represents a 98.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 1,502,611 shares of company stock valued at $51,602,943 in the last ninety days. Company insiders own 7.06% of the company's stock.

Pinterest 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.

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