Envestnet Asset Management Inc. Purchases 52,563 Shares of Pinterest, Inc. (NYSE:PINS)

Envestnet Asset Management Inc. grew its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 670,132 shares of the company's stock after acquiring an additional 52,563 shares during the quarter. Envestnet Asset Management Inc. owned about 0.10% of Pinterest worth $20,774,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of PINS. Redwood Investment Management LLC lifted its holdings in Pinterest by 3.2% in the fourth quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock worth $463,000 after purchasing an additional 495 shares during the period. EP Wealth Advisors LLC lifted its holdings in Pinterest by 9.3% in the fourth quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock worth $223,000 after purchasing an additional 656 shares during the period. Resonant Capital Advisors LLC lifted its holdings in Pinterest by 6.2% in the first quarter. Resonant Capital Advisors LLC now owns 11,787 shares of the company's stock worth $365,000 after purchasing an additional 686 shares during the period. True Wealth Design LLC lifted its holdings in Pinterest by 49.0% in the fourth quarter. True Wealth Design LLC now owns 2,243 shares of the company's stock worth $65,000 after purchasing an additional 738 shares during the period. Finally, Mather Group LLC. lifted its holdings in Pinterest by 133.5% in the first quarter. Mather Group LLC. now owns 1,310 shares of the company's stock worth $41,000 after purchasing an additional 749 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PINS. Benchmark reduced their price objective 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. Morgan Stanley boosted their price target on shares of Pinterest from $28.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. BMO Capital Markets dropped their price target on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Bank of America dropped their price target on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Finally, Citigroup reiterated a "buy" rating and issued a $44.00 price target (up from $41.00) on shares of Pinterest in a research report on Tuesday, June 24th. Six equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $41.19.

Insider Buying and Selling at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 29,606 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total transaction 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 $12,428,982.50. This represents a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Benjamin Silbermann sold 408,332 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total value of $13,540,289.12. Following the completion of the sale, the director owned 6,274 shares of the company's stock, valued at approximately $208,045.84. This trade represents a 98.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,278,445 shares of company stock valued at $43,269,922 over the last quarter. Corporate insiders own 7.06% of the company's stock.

Pinterest Trading Up 0.0%

Pinterest stock traded up $0.02 during trading hours on Thursday, reaching $36.10. 8,213,080 shares of the company were exchanged, compared to its average volume of 11,076,345. The firm has a market cap of $24.48 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.80 and a beta of 0.94. The stock has a 50-day moving average of $33.97 and a 200 day moving average of $32.30. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $42.20.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share 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 firm's revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 earnings per share. As a group, research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

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.