Allegiance Financial Group Advisory Services LLC acquired a new stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,697 shares of the company's stock, valued at approximately $239,000.
Several other institutional investors have also modified their holdings of the business. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Pinterest in the first quarter valued at approximately $25,000. Garde Capital Inc. bought a new stake in Pinterest in the 1st quarter valued at $26,000. NBC Securities Inc. lifted its position in 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 position in shares of Pinterest during the first quarter worth about $32,000. Finally, Golden State Wealth Management LLC boosted its position in shares of Pinterest by 665.4% during the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock worth $38,000 after buying an additional 1,058 shares during the period. Institutional investors own 88.81% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have commented on PINS. Benchmark cut their target price on Pinterest from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Oppenheimer increased their target price on shares of Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. The Goldman Sachs Group reduced their target price on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a report on Monday, April 14th. Guggenheim reduced their price objective on shares of Pinterest from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Barclays reduced their price objective on shares of Pinterest from $42.00 to $38.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Six analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $41.19.
View Our Latest Research Report on PINS
Pinterest Stock Up 1.4%
Shares of PINS traded up $0.52 during midday trading on Friday, reaching $36.60. 2,035,673 shares of the stock were exchanged, compared to its average volume of 11,041,251. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $42.20. The company has a market cap of $24.82 billion, a P/E ratio of 13.34, a PEG ratio of 1.78 and a beta of 0.94. The stock's 50 day simple moving average is $33.97 and its 200 day simple moving average is $32.30.
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 analysts' consensus estimates of $0.25 by ($0.02). Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The business had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. During the same period in the prior year, the firm earned $0.17 EPS. The business's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.
Insiders Place Their Bets
In other Pinterest news, CFO Donnelly Julia Brau sold 29,606 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total value of $1,014,005.50. Following the transaction, the chief financial officer directly owned 362,890 shares of the company's stock, valued at $12,428,982.50. This trade represents a 7.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin Silbermann sold 408,332 shares of Pinterest stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,278,445 shares of company stock worth $43,269,922. Corporate insiders own 7.06% of the company's stock.
About Pinterest
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINS - Free Report).

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