55,272 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC acquired a new position in Pinterest, Inc. (NYSE:PINS - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 55,272 shares of the company's stock, valued at approximately $1,713,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its holdings in Pinterest by 73.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 89,034 shares of the company's stock worth $2,760,000 after buying an additional 37,829 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Pinterest by 91.3% in the 4th quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company's stock worth $725,000 after purchasing an additional 11,925 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Pinterest in the 1st quarter worth about $235,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Pinterest by 21.1% in the 1st 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. Finally, Revolve Wealth Partners LLC bought a new stake in shares of Pinterest in the 4th quarter worth about $252,000. Institutional investors and hedge funds own 88.81% of the company's stock.

Pinterest Stock Down 0.3%

NYSE PINS traded down $0.11 on Thursday, hitting $35.79. The stock had a trading volume of 4,920,764 shares, compared to its average volume of 11,056,433. Pinterest, Inc. has a one year low of $23.68 and a one year high of $43.75. The stock has a market cap of $24.27 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 1.76 and a beta of 0.94. The company's 50-day moving average is $32.90 and its two-hundred day moving average is $32.04.

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 the consensus estimate of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The company's revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share. On average, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analyst Ratings Changes

PINS has been the subject of several research analyst reports. Benchmark dropped their target price on shares of Pinterest from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. KeyCorp boosted their target price on shares of Pinterest from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. raised shares of Pinterest from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $35.00 to $40.00 in a research report on Tuesday, June 3rd. Wolfe Research raised shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price for the company in a research report on Thursday, May 15th. Finally, Oppenheimer boosted their price objective 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. 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $40.52.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 29,606 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 362,890 shares in the company, valued at $12,428,982.50. This trade represents a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the transaction, the insider owned 390,230 shares of the company's stock, valued at $13,923,406.40. This trade represents a 2.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,176,362 shares of company stock worth $39,645,976 over the last three months. Corporate insiders own 7.06% of the company's stock.

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.