59,468 Shares in Pinterest, Inc. (NYSE:PINS) Purchased by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division purchased a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 59,468 shares of the company's stock, valued at approximately $1,844,000.

A number of other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Pinterest by 104.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock valued at $737,533,000 after purchasing an additional 12,986,310 shares during the period. Norges Bank acquired a new position in shares of Pinterest in the 4th quarter valued at about $358,205,000. Marshall Wace LLP increased its holdings in shares of Pinterest by 134.1% in the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock valued at $310,352,000 after purchasing an additional 6,129,985 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after purchasing an additional 4,527,902 shares during the period. Finally, Contour Asset Management LLC acquired a new position in shares of Pinterest in the 4th quarter valued at about $86,330,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Trading Up 0.3%

PINS stock traded up $0.09 during midday trading on Friday, hitting $31.15. The stock had a trading volume of 8,753,622 shares, compared to its average volume of 10,846,306. The firm has a market capitalization of $21.13 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 1.95 and a beta of 0.83. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19. The stock has a 50-day simple moving average of $28.57 and a 200 day simple moving average of $31.21.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the business earned $0.17 earnings per share. On average, equities analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Andrea Acosta sold 3,941 shares of Pinterest stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.75, for a total value of $140,890.75. Following the completion of the transaction, the chief accounting officer now directly owns 144,129 shares of the company's stock, valued at $5,152,611.75. The trade was a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the transaction, the insider now directly owns 254,211 shares of the company's stock, valued at $8,350,831.35. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,066,426 shares of company stock worth $34,835,253 over the last three months. 7.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Royal Bank of Canada increased their price objective on Pinterest from $48.00 to $50.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Wedbush restated an "outperform" rating and issued a $40.00 price objective (up previously from $38.00) on shares of Pinterest in a report on Friday, May 9th. Raymond James downgraded Pinterest from an "overweight" rating to a "market perform" rating in a report on Monday, April 7th. Wolfe Research upgraded Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 price objective on the stock in a report on Thursday, May 15th. Finally, KeyCorp increased their price objective on Pinterest from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.26.

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.