7,568 Shares in Pinterest, Inc. (NYSE:PINS) Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC bought a new position in Pinterest, Inc. (NYSE:PINS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,568 shares of the company's stock, valued at approximately $235,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Garde Capital Inc. bought a new stake in Pinterest in the first quarter worth $26,000. NBC Securities Inc. lifted its stake in Pinterest by 99,900.0% in the first quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock worth $31,000 after purchasing an additional 999 shares during the last quarter. American National Bank & Trust bought a new stake in Pinterest in the first quarter worth $32,000. Golden State Wealth Management LLC lifted its stake in Pinterest by 665.4% in the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock worth $38,000 after purchasing an additional 1,058 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL lifted its stake in Pinterest by 401.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company's stock worth $44,000 after purchasing an additional 1,204 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 11,510 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $35.68, for a total transaction of $410,676.80. Following the sale, the insider owned 390,230 shares in the company, valued at $13,923,406.40. This represents a 2.87% 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, CAO Andrea Acosta sold 3,759 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $31.86, for a total transaction of $119,761.74. Following the sale, the chief accounting officer owned 171,373 shares in the company, valued at approximately $5,459,943.78. The trade was a 2.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,176,362 shares of company stock valued at $39,645,976. Insiders own 7.06% of the company's stock.

Pinterest Stock Performance

Shares of PINS opened at $35.74 on Friday. The stock has a market cap of $24.24 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.76 and a beta of 0.94. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $44.06. The firm's 50-day simple moving average is $32.30 and its two-hundred day simple moving average is $31.91.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. Pinterest's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. Equities research analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Ratings Changes

PINS has been the subject of several recent research reports. KeyCorp boosted their price target on shares of Pinterest from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Bank of America lowered their price target on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. UBS Group lowered their price objective on shares of Pinterest from $50.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, April 11th. BMO Capital Markets lowered their price objective on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, Piper Sandler lowered their price objective on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.52.

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.

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