Bridgewater Advisors Inc. Makes New Investment in Pinterest, Inc. (NYSE:PINS)

Bridgewater Advisors Inc. acquired a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,495 shares of the company's stock, valued at approximately $325,000.

Other institutional investors have also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC bought a new position in shares of Pinterest in the 1st quarter valued at approximately $25,000. Garde Capital Inc. acquired a new stake in shares of Pinterest during the 1st quarter worth approximately $26,000. NBC Securities Inc. boosted its stake 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 buying an additional 999 shares in the last quarter. American National Bank & Trust acquired a new stake in Pinterest in the 1st quarter valued at $32,000. Finally, Golden State Wealth Management LLC boosted its stake in Pinterest by 665.4% in the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock valued at $38,000 after buying an additional 1,058 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Price Performance

PINS stock opened at $36.07 on Thursday. The stock has a market capitalization of $24.47 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.80 and a beta of 0.94. The business has a 50-day moving average of $33.80 and a 200-day moving average of $32.25. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $42.20.

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

Wall Street Analyst Weigh In

Several analysts recently commented on PINS shares. Stifel Nicolaus decreased their price target on Pinterest from $50.00 to $36.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company set a $42.00 price objective on Pinterest and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Oppenheimer boosted their price objective on Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Monness Crespi & Hardt reduced their price objective on Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, Guggenheim reduced their price objective on Pinterest from $40.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Six equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $40.97.

Insider Activity at Pinterest

In related news, Director Benjamin Silbermann sold 408,332 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was 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 of the company's stock, valued at approximately $208,045.84. This represents a 98.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 29,606 shares of Pinterest stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total value of $1,014,005.50. Following the transaction, the chief financial officer owned 362,890 shares of the company's stock, valued at $12,428,982.50. This represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,278,445 shares of company stock valued at $43,269,922 over 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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