Coyle Financial Counsel LLC Purchases New Position in Pinterest, Inc. (NYSE:PINS)

Coyle Financial Counsel LLC purchased a new stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,032 shares of the company's stock, valued at approximately $280,000.

A number of other hedge funds also recently bought and sold shares of PINS. Price T Rowe Associates Inc. MD increased its holdings in Pinterest by 104.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock valued at $737,533,000 after purchasing an additional 12,986,310 shares during the period. Norges Bank bought a new stake in Pinterest during the 4th quarter valued at approximately $358,205,000. Marshall Wace LLP boosted its position in Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock valued at $310,352,000 after acquiring an additional 6,129,985 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after acquiring an additional 4,527,902 shares in the last quarter. Finally, Contour Asset Management LLC bought a new stake in Pinterest during the 4th quarter valued at approximately $86,330,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Insiders Place Their Bets

In related news, Director Benjamin Silbermann sold 408,332 shares of the firm'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 transaction, the director directly owned 6,274 shares of the company's stock, valued at approximately $208,045.84. This trade represents a 98.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 29,606 shares of the firm'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 in the company, valued at approximately $12,428,982.50. This represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,278,445 shares of company stock worth $43,269,922. 7.06% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. BMO Capital Markets cut their price objective on Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Wedbush reaffirmed an "outperform" rating and set a $40.00 price objective (up from $38.00) on shares of Pinterest in a research report on Friday, May 9th. Benchmark cut their price objective on Pinterest from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised Pinterest from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $35.00 to $40.00 in a research report on Tuesday, June 3rd. Finally, KeyCorp boosted their price target on Pinterest from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Six research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.52.

Pinterest Trading Down 1.0%

Shares of PINS opened at $35.45 on Friday. The firm has a market cap of $24.04 billion, a PE ratio of 12.94, a P/E/G ratio of 1.77 and a beta of 0.94. The firm has a fifty day simple moving average of $33.27 and a two-hundred day simple moving average of $32.12. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $42.20.

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 analysts' consensus estimates 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 net margin of 50.41% and a return on equity of 8.13%. Pinterest's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 earnings per share. As a group, research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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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