CFO4Life Group LLC Buys New Stake in Pinterest, Inc. (NYSE:PINS)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Redwood Investment Management LLC increased its holdings in Pinterest by 3.2% in the 4th quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock worth $463,000 after acquiring an additional 495 shares during the last quarter. Founders Financial Alliance LLC increased its holdings in Pinterest by 5.9% during the 4th quarter. Founders Financial Alliance LLC now owns 10,056 shares of the company's stock worth $292,000 after acquiring an additional 560 shares during the period. EP Wealth Advisors LLC raised its position 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 worth $223,000 after buying an additional 656 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in shares of Pinterest by 6.2% during the 1st quarter. Resonant Capital Advisors LLC now owns 11,787 shares of the company's stock valued at $365,000 after acquiring an additional 686 shares during the last quarter. Finally, True Wealth Design LLC lifted its position in Pinterest by 49.0% during 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. Hedge funds and other institutional investors own 88.81% of the company's stock.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 29,606 shares of the business's stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Benjamin Silbermann sold 408,332 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total value of $13,540,289.12. Following the sale, the director owned 6,274 shares of the company's stock, valued at approximately $208,045.84. The trade was a 98.49% 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 worth $43,269,922 over the last quarter. 7.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented 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. JPMorgan Chase & Co. upgraded shares of Pinterest from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $35.00 to $40.00 in a research report on Tuesday, June 3rd. Raymond James Financial lowered shares of Pinterest from an "overweight" rating to a "market perform" rating in a report on Monday, April 7th. Wedbush reissued an "outperform" rating and set a $40.00 price target (up from $38.00) on shares of Pinterest in a research report on Friday, May 9th. Finally, Barclays lowered their price target on Pinterest from $42.00 to $38.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Six research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Pinterest has a consensus rating of "Moderate Buy" and a consensus target price of $40.52.

Pinterest Price Performance

Shares of NYSE:PINS traded down $0.11 on Thursday, hitting $35.79. 4,920,764 shares of the company's stock were exchanged, compared to its average volume of 11,078,273. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $43.03. The stock has a market capitalization of $24.27 billion, a price-to-earnings ratio of 79.76, a price-to-earnings-growth ratio of 1.77 and a beta of 0.94. The business's 50 day simple moving average is $33.10 and its two-hundred day simple moving average is $32.08.

Pinterest (NYSE:PINS - Get Free Report) last issued 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). The company had revenue of $854.99 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. Equities analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.