8,404 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC acquired a new position in Pinterest, Inc. (NYSE:PINS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,404 shares of the company's stock, valued at approximately $261,000.

Other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in shares of Pinterest by 73.9% in the first quarter. Janney Montgomery Scott LLC now owns 89,034 shares of the company's stock worth $2,760,000 after purchasing an additional 37,829 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Pinterest in the first quarter worth approximately $235,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Pinterest by 21.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 112,201 shares of the company's stock worth $3,478,000 after purchasing an additional 19,552 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Pinterest in the fourth quarter worth approximately $252,000. Finally, Farther Finance Advisors LLC increased its position in shares of Pinterest by 642.8% in the first quarter. Farther Finance Advisors LLC now owns 9,404 shares of the company's stock worth $292,000 after purchasing an additional 8,138 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

Pinterest Stock Down 1.0%

Shares of PINS stock opened at $35.45 on Friday. The stock has a fifty day moving average of $33.27 and a 200 day moving average of $32.13. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $42.20. The firm has a market capitalization of $24.04 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.75 and a beta of 0.94.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The business had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. During the same period in the previous year, the business earned $0.17 EPS. The business's revenue was up 15.5% compared to the same quarter last year. Equities research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on PINS shares. UBS Group reduced their price target on shares of Pinterest from $50.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Benchmark reduced their price target on shares of Pinterest from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Raymond James Financial cut shares of Pinterest from an "overweight" rating to a "market perform" rating in a research report on Monday, April 7th. Oppenheimer increased their price target on shares of Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Finally, Piper Sandler reduced their price target on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating on the stock in a research report 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's stock. According to data from MarketBeat, Pinterest has an average rating of "Moderate Buy" and a consensus price target of $40.52.

Insider Buying and Selling at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 29,606 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the completion of the transaction, the chief financial officer owned 362,890 shares of the company's stock, valued at approximately $12,428,982.50. This trade represents a 7.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Benjamin Silbermann sold 408,332 shares of the firm's stock in a transaction 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 transaction, the director directly owned 6,274 shares of the company's stock, valued at $208,045.84. This represents a 98.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,278,445 shares of company stock valued at $43,269,922 in the last three months. 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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