Choreo LLC Invests $319,000 in Pinterest, Inc. (NYSE:PINS)

Key Points

• Choreo LLC acquired a new stake in Pinterest by purchasing 10,293 shares, valued at approximately $319,000, during the 1st quarter.
• In the fourth quarter, several hedge funds significantly increased their positions in Pinterest, with Price T Rowe Associates Inc. raising its stake by 104.3%.
• Pinterest's stock has a market capitalization of $25.95 billion and posted earnings of $0.23 per share, missing analysts' estimates of $0.25.

Choreo LLC purchased a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,293 shares of the company's stock, valued at approximately $319,000.

Several other hedge funds have also made changes to their positions in the business. Bartlett & CO. Wealth Management LLC acquired a new stake in Pinterest in the first quarter valued at approximately $25,000. Garde Capital Inc. acquired a new stake in Pinterest during the first quarter worth approximately $26,000. 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 purchasing an additional 999 shares in the last quarter. American National Bank & Trust acquired a new stake in Pinterest during the first quarter worth approximately $32,000. Finally, Golden State Wealth Management LLC raised its holdings in Pinterest by 665.4% during the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock worth $38,000 after purchasing an additional 1,058 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Oppenheimer raised their price objective on shares of Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Wedbush raised their price objective on shares of Pinterest from $40.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Monness Crespi & Hardt cut their price objective on shares of Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. raised shares of Pinterest from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $35.00 to $40.00 in a report on Tuesday, June 3rd. Finally, Guggenheim reaffirmed a "buy" rating on shares of Pinterest in a report on Monday. Five equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.81.

Pinterest Price Performance

Shares of NYSE PINS traded up $0.32 during trading on Thursday, hitting $38.62. 14,494,203 shares of the company were exchanged, compared to its average volume of 7,117,167. The company has a market cap of $26.20 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.92 and a beta of 0.94. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90. The firm's fifty day moving average price is $35.02 and its 200 day moving average price is $32.75.

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

Insider Activity

In other news, Director Benjamin Silbermann sold 408,332 shares of Pinterest stock in a transaction on Wednesday, May 14th. The stock was 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 $208,045.84. The trade was a 98.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 1,502,611 shares of company stock worth $51,602,943. Insiders own 7.06% 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.