Cache Advisors LLC Invests $261,000 in Pinterest, Inc. (NYSE:PINS)

Cache Advisors LLC purchased a new position in Pinterest, Inc. (NYSE:PINS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,000 shares of the company's stock, valued at approximately $261,000.

A number of other hedge funds also recently modified their holdings of the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Pinterest by 2.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company's stock worth $366,000 after purchasing an additional 342 shares during the period. Ethos Financial Group LLC grew its position in Pinterest by 3.1% in the fourth quarter. Ethos Financial Group LLC now owns 11,803 shares of the company's stock valued at $342,000 after acquiring an additional 350 shares during the last quarter. Amalgamated Bank grew its position in Pinterest by 0.9% in the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company's stock valued at $1,154,000 after acquiring an additional 372 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Pinterest by 20.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,564 shares of the company's stock valued at $75,000 after acquiring an additional 429 shares during the last quarter. Finally, Redwood Investment Management LLC grew its position in Pinterest by 3.2% in the fourth quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock valued at $463,000 after acquiring an additional 495 shares during the last quarter. Institutional investors own 88.81% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PINS shares. Benchmark decreased their target price on Pinterest from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Stifel Nicolaus decreased their target price on Pinterest from $50.00 to $36.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. 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 report on Thursday, May 15th. Morgan Stanley lifted their price target on Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Finally, Citigroup lifted their price objective on Pinterest from $38.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, Pinterest presently has an average rating of "Moderate Buy" and a consensus price target of $40.26.

Pinterest Trading Down 0.9%

NYSE PINS traded down $0.29 during trading hours on Thursday, hitting $31.15. The company's stock had a trading volume of 2,279,204 shares, compared to its average volume of 10,791,356. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19. The company has a market capitalization of $21.12 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The company's 50-day simple moving average is $28.70 and its two-hundred day simple moving average is $31.19.

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 the consensus estimate of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. 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 previous year, the business posted $0.17 EPS. Pinterest's revenue was up 15.5% compared to the same quarter last year. Research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Andrea Acosta sold 3,941 shares of Pinterest stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $35.75, for a total value of $140,890.75. Following the completion of the transaction, the chief accounting officer now directly owns 144,129 shares in the company, valued at approximately $5,152,611.75. The trade was a 2.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeremy S. Levine sold 50,535 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $33.98, for a total transaction of $1,717,179.30. Following the transaction, the director now owns 1,156,693 shares of the company's stock, valued at $39,304,428.14. This trade represents a 4.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 964,343 shares of company stock valued at $31,622,701 in the last 90 days. 7.06% of the stock is currently owned by corporate insiders.

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.