Chicago Capital LLC Lowers Position in Pinterest, Inc. (NYSE:PINS)

Chicago Capital LLC decreased its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 97.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,697 shares of the company's stock after selling 1,393,201 shares during the quarter. Chicago Capital LLC's holdings in Pinterest were worth $952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Whipplewood Advisors LLC acquired a new stake in Pinterest in the fourth quarter valued at approximately $28,000. NBC Securities Inc. raised its holdings in 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 during the last quarter. American National Bank & Trust acquired a new position in Pinterest during the first quarter worth $32,000. Strategic Investment Solutions Inc. IL lifted its stake in shares of Pinterest by 401.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company's stock valued at $44,000 after buying an additional 1,204 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of Pinterest by 51.5% during the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock valued at $50,000 after buying an additional 590 shares during the last quarter. Institutional investors own 88.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PINS shares. Guggenheim dropped their price target on shares of Pinterest from $40.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Stifel Nicolaus cut 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. Monness Crespi & Hardt dropped their price objective on Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. BMO Capital Markets reduced their target price on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, Benchmark lowered their target price on shares of Pinterest from $55.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $40.42.

Pinterest Stock Up 0.7%

Pinterest stock traded up $0.23 during midday trading on Wednesday, reaching $34.77. The stock had a trading volume of 7,304,707 shares, compared to its average volume of 10,899,565. The firm has a market capitalization of $23.58 billion, a PE ratio of 12.69, a P/E/G ratio of 1.74 and a beta of 0.91. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $45.19. The firm's 50-day moving average price is $29.82 and its 200 day moving average price is $31.57.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The business's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the firm earned $0.17 EPS. Equities research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Activity at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $33.71, for a total value of $3,441,217.93. Following the completion of the transaction, the director now directly owns 6,274 shares in the company, valued at approximately $211,496.54. This trade represents a 94.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 12,253 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $32.24, for a total transaction of $395,036.72. Following the transaction, the insider now directly owns 228,510 shares of the company's stock, valued at approximately $7,367,162.40. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,075,021 shares of company stock worth $35,411,517. Corporate insiders own 7.11% of the company's stock.

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.