CFO4Life Group LLC Invests $537,000 in Pinterest, Inc. (NYSE:PINS)

CFO4Life Group LLC bought a new position in Pinterest, Inc. (NYSE:PINS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,321 shares of the company's stock, valued at approximately $537,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Pinterest during the first quarter worth $25,000. Garde Capital Inc. acquired a new stake in shares of Pinterest during the first quarter worth approximately $26,000. NBC Securities Inc. increased its holdings 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 worth $31,000 after buying an additional 999 shares in the last quarter. American National Bank & Trust bought a new stake in shares of Pinterest during the first quarter valued at approximately $32,000. Finally, Golden State Wealth Management LLC boosted its stake in Pinterest by 665.4% in 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 during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Trading Up 0.6%

Shares of PINS opened at $35.99 on Thursday. The firm has a market cap of $24.41 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.76 and a beta of 0.94. The stock has a 50 day moving average of $32.90 and a 200-day moving average of $32.04. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $43.75.

Pinterest (NYSE:PINS - Get Free Report) last announced its 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 50.41% and a return on equity of 8.13%. The business had revenue of $854.99 million for the quarter, compared to the consensus estimate of $848.49 million. During the same period in the previous year, the firm earned $0.17 EPS. The firm's revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Andrea Acosta sold 3,759 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $31.86, for a total transaction of $119,761.74. Following the sale, the chief accounting officer directly owned 171,373 shares of the company's stock, valued at $5,459,943.78. The trade was a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeremy S. Levine sold 6,274 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $34.11, for a total value of $214,006.14. Following the sale, the director directly owned 1,158,833 shares in the company, valued at $39,527,793.63. This trade represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,176,362 shares of company stock worth $39,645,976. 7.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PINS shares. BMO Capital Markets reduced their price target on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Wolfe Research upgraded 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. JPMorgan Chase & Co. upgraded shares of Pinterest from a "neutral" rating to an "overweight" rating and upped their price target for the company from $35.00 to $40.00 in a research report on Tuesday, June 3rd. Piper Sandler cut their target price on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, Wells Fargo & Company set a $42.00 price objective on shares of Pinterest and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. Based on data from MarketBeat, Pinterest has a consensus rating of "Moderate Buy" and a consensus price target of $40.52.

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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