Abacus FCF Advisors LLC Has $1.43 Million Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Abacus FCF Advisors LLC reduced its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 39.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,243 shares of the company's stock after selling 29,821 shares during the quarter. Abacus FCF Advisors LLC's holdings in Pinterest were worth $1,434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PINS. Whipplewood Advisors LLC bought a new position in shares of Pinterest during the fourth quarter worth about $28,000. NBC Securities Inc. grew its holdings in shares of Pinterest by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after acquiring an additional 999 shares in the last quarter. American National Bank & Trust acquired a new stake in shares of Pinterest in the first quarter valued at about $32,000. Strategic Investment Solutions Inc. IL boosted its position in Pinterest by 401.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company's stock valued at $44,000 after purchasing an additional 1,204 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its position in shares of Pinterest by 51.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock valued at $50,000 after acquiring an additional 590 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Wanjiku Juanita Walcott sold 12,253 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $32.24, for a total transaction of $395,036.72. Following the completion of the sale, the insider now owns 228,510 shares in the company, valued at $7,367,162.40. This trade represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the sale, the director now directly owns 6,274 shares in the company, valued at $195,497.84. This trade represents a 94.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,177,104 shares of company stock worth $38,592,423. 7.06% of the stock is owned by company insiders.

Pinterest Stock Down 0.1%

Shares of NYSE:PINS traded down $0.03 during midday trading on Friday, reaching $34.00. The company's stock had a trading volume of 1,716,894 shares, compared to its average volume of 10,871,106. The business has a 50 day moving average price of $29.12 and a 200 day moving average price of $31.45. The firm has a market cap of $23.06 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings results 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). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The company had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. Sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on PINS shares. The Goldman Sachs Group decreased their price target on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. UBS Group lowered their target price on Pinterest from $50.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Wolfe Research upgraded Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price on the stock in a research note on Thursday, May 15th. Oppenheimer increased their price target on shares of Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Finally, Morgan Stanley raised their price target on Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pinterest has a consensus rating of "Moderate Buy" and a consensus price target of $40.42.

About Pinterest

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.