Donoghue Forlines LLC Makes New $2.10 Million Investment in Pinterest, Inc. (NYSE:PINS)

Key Points

• Donoghue Forlines LLC acquired 67,661 shares of Pinterest, Inc., worth approximately $2.1 million, during the first quarter of the year.
• Analysts are optimistic about Pinterest, with multiple firms adjusting their price targets upwards, leading to an average target of $42.40 and a consensus rating of "Moderate Buy."
• Pinterest reported a 16.9% increase in revenue year-over-year, totaling $998.23 million for the most recent quarter, although they missed earnings expectations by one cent.

Donoghue Forlines LLC bought a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 67,661 shares of the company's stock, valued at approximately $2,097,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Pinterest by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company's stock worth $1,798,270,000 after purchasing an additional 1,263,863 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 worth $737,533,000 after purchasing an additional 12,986,310 shares during the period. Ameriprise Financial Inc. increased its position in shares of Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after purchasing an additional 4,527,902 shares during the period. FMR LLC raised its stake in shares of Pinterest by 2.6% in the fourth quarter. FMR LLC now owns 12,599,356 shares of the company's stock valued at $365,381,000 after purchasing an additional 316,633 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Pinterest by 134.1% in the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock worth $310,352,000 after purchasing an additional 6,129,985 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.

Pinterest Stock Down 2.5%

NYSE PINS traded down $0.89 during trading hours on Monday, hitting $34.25. The company's stock had a trading volume of 17,708,416 shares, compared to its average volume of 11,361,114. The stock has a fifty day moving average of $36.06 and a 200 day moving average of $33.14. The firm has a market capitalization of $23.23 billion, a P/E ratio of 66.28, a PEG ratio of 1.76 and a beta of 0.78. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). The firm had revenue of $998.23 million during the quarter, compared to analyst estimates of $973.42 million. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The business's revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. On average, analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In related news, Director Benjamin Silbermann sold 408,332 shares of the stock in a transaction that occurred 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 sale, the director directly owned 6,274 shares of the company's stock, valued at approximately $208,045.84. This represents a 98.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 1,502,611 shares of company stock worth $51,602,943. Insiders own 7.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PINS. UBS Group increased their price objective on shares of Pinterest from $44.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Wolfe Research upgraded shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 price target for the company in a research note on Thursday, May 15th. TD Cowen upped their price objective on Pinterest from $40.00 to $43.00 and gave the company a "buy" rating in a research note on Tuesday, July 15th. Guggenheim restated a "buy" rating on shares of Pinterest in a research report on Monday, July 28th. Finally, Piper Sandler set a $40.00 price target on Pinterest in a research report on Friday. Five analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $42.40.

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.