Earned Wealth Advisors LLC Invests $214,000 in Pinterest, Inc. (NYSE:PINS)

Key Points

• Earned Wealth Advisors LLC has initiated a new investment in Pinterest, purchasing 6,897 shares valued at approximately $214,000 in the first quarter of the year.
• Insider activity has been notable, with CTO Matthew Madrigal selling 20,000 shares for about $771,600, reflecting a 4.46% decrease in his ownership.
• Several analysts have recently provided ratings upgrades for Pinterest, with the stock currently holding a consensus rating of "Moderate Buy" and a target price of $41.48.

Earned Wealth Advisors LLC acquired a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,897 shares of the company's stock, valued at approximately $214,000.

A number of other large investors also recently bought and sold shares of PINS. Revolve Wealth Partners LLC acquired a new stake in shares of Pinterest in the fourth quarter valued at about $252,000. Orion Portfolio Solutions LLC grew its holdings in shares of Pinterest by 30.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 8,215 shares of the company's stock worth $238,000 after acquiring an additional 1,909 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Pinterest in the 4th quarter valued at approximately $279,000. Massachusetts Financial Services Co. MA grew its holdings in Pinterest by 8.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 911,315 shares of the company's stock valued at $26,428,000 after purchasing an additional 67,128 shares during the last quarter. Finally, Huntington National Bank increased its position in shares of Pinterest by 484.1% in the fourth quarter. Huntington National Bank now owns 2,027 shares of the company's stock valued at $59,000 after buying an additional 1,680 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PINS shares. Stifel Nicolaus lifted their target price on shares of Pinterest from $40.00 to $46.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. raised Pinterest from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $35.00 to $40.00 in a report on Tuesday, June 3rd. Citigroup reiterated a "buy" rating and set a $44.00 price objective (up previously from $41.00) on shares of Pinterest in a research report on Tuesday, June 24th. Monness Crespi & Hardt lowered their target price on shares of Pinterest from $50.00 to $40.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, BMO Capital Markets decreased their price objective 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. Five investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. Based on data from MarketBeat, Pinterest currently has a consensus rating of "Moderate Buy" and an average target price of $41.48.

Pinterest Stock Performance

Shares of PINS stock traded up $0.12 during trading on Thursday, hitting $39.22. 24,896,756 shares of the company were exchanged, compared to its average volume of 8,675,242. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $40.90. The business's 50-day simple moving average is $35.93 and its 200 day simple moving average is $33.10. The firm has a market capitalization of $26.60 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.96 and a beta of 0.78.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly 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). Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The business had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. During the same period in the prior year, the firm earned $0.17 earnings per share. The business's quarterly revenue was up 15.5% on a year-over-year basis. On average, equities analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $37.95, for a total transaction of $3,874,049.85. Following the completion of the sale, the director owned 8,414 shares of the company's stock, valued at approximately $319,311.30. This represents a 92.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $36.88, for a total transaction of $42,412.00. Following the sale, the director owned 31,750 shares of the company's stock, valued at approximately $1,170,940. The trade was a 3.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,502,611 shares of company stock valued at $51,602,943. 7.06% of the stock is owned by company insiders.

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.