26,857 Shares in Pinterest, Inc. (NYSE:PINS) Purchased by Caliber Wealth Management LLC KS

Key Points

• Caliber Wealth Management LLC acquired a new stake in Pinterest, purchasing 26,857 shares valued at approximately $833,000 in the first quarter.
• Insider transactions indicate significant selling activity, with Director Benjamin Silbermann selling 408,332 shares for over $13.5 million, decreasing their ownership by 98.49%.
• Analysts have mixed views on Pinterest, with Oppenheimer raising the price target to $40.00, while five analysts rated the stock as a hold and twenty-five gave a buy rating, indicating a consensus average rating of "Moderate Buy."

Caliber Wealth Management LLC KS bought a new position in Pinterest, Inc. (NYSE:PINS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 26,857 shares of the company's stock, valued at approximately $833,000.

Several other large investors have also made changes to their positions in PINS. Bartlett & CO. Wealth Management LLC acquired a new stake in Pinterest in the 1st quarter valued at $25,000. Garde Capital Inc. acquired a new stake in shares of Pinterest during the first quarter valued at about $26,000. NBC Securities Inc. grew its stake in shares of Pinterest by 99,900.0% during the first 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 during the first quarter valued at about $32,000. Finally, Golden State Wealth Management LLC grew its stake 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 valued at $38,000 after acquiring an additional 1,058 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Raymond James Financial downgraded Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. The Goldman Sachs Group lowered their target price on Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Citigroup restated a "buy" rating and set a $44.00 target price (up from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th. Wolfe Research upgraded Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price for the company in a research note on Thursday, May 15th. Finally, Morgan Stanley upgraded Pinterest from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $37.00 to $45.00 in a research note on Monday, July 21st. Five equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $41.81.

Pinterest Stock Up 0.1%

PINS stock traded up $0.03 during mid-day trading on Wednesday, reaching $38.35. 1,419,976 shares of the stock traded hands, compared to its average volume of 11,635,965. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $40.90. The business has a 50-day moving average of $34.90 and a two-hundred day moving average of $32.71. The firm has a market capitalization of $26.01 billion, a PE ratio of 13.99, a P/E/G ratio of 1.93 and a beta of 0.94.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $854.99 million for the quarter, compared to the consensus estimate of $848.49 million. During the same quarter last year, the company earned $0.17 earnings per share. The firm's revenue was up 15.5% on a year-over-year basis. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity at Pinterest

In other news, Director Benjamin Silbermann sold 408,332 shares of the company's stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,502,611 shares of company stock worth $51,602,943 over the last three months. 7.11% 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.