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

CFO4Life Group LLC bought a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 17,321 shares of the company's stock, valued at approximately $537,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Redwood Investment Management LLC increased its holdings in shares of 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 purchasing an additional 495 shares during the last quarter. Founders Financial Alliance LLC increased its holdings in shares of Pinterest by 5.9% in the fourth quarter. Founders Financial Alliance LLC now owns 10,056 shares of the company's stock valued at $292,000 after purchasing an additional 560 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Pinterest by 9.3% in the fourth quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock valued at $223,000 after purchasing an additional 656 shares during the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of Pinterest by 6.2% in the first quarter. Resonant Capital Advisors LLC now owns 11,787 shares of the company's stock valued at $365,000 after purchasing an additional 686 shares during the last quarter. Finally, True Wealth Design LLC increased its holdings in shares of Pinterest by 49.0% in the fourth quarter. True Wealth Design LLC now owns 2,243 shares of the company's stock valued at $65,000 after purchasing an additional 738 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Oppenheimer increased their price target on Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, May 9th. JPMorgan Chase & Co. raised Pinterest from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $35.00 to $40.00 in a research note on Tuesday, June 3rd. Bank of America cut their target price on Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company set a $42.00 target price on Pinterest and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, The Goldman Sachs Group cut 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. Six research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $40.52.

Pinterest Trading Down 1.0%

NYSE:PINS traded down $0.35 during midday trading on Friday, reaching $35.45. The company had a trading volume of 4,121,036 shares, compared to its average volume of 11,078,117. The firm has a market capitalization of $24.04 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.75 and a beta of 0.94. The stock's fifty day simple moving average is $33.27 and its 200-day simple moving average is $32.15. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $42.20.

Pinterest (NYSE:PINS - Get Free Report) last released its 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). The company had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $0.17 earnings per share. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.6 EPS for the current year.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 29,606 shares of Pinterest stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the completion of the sale, the chief financial officer directly owned 362,890 shares of the company's stock, valued at $12,428,982.50. The trade was a 7.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Wanjiku Juanita Walcott sold 11,510 shares of Pinterest stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $35.68, for a total value of $410,676.80. Following the sale, the insider directly 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 1,278,445 shares of company stock valued at $43,269,922 over the last quarter. Corporate insiders own 7.11% 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.