Exchange Traded Concepts LLC Has $2.52 Million Position in Pinterest, Inc. (NYSE:PINS)

Exchange Traded Concepts LLC increased its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 39.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 81,427 shares of the company's stock after buying an additional 22,882 shares during the quarter. Exchange Traded Concepts LLC's holdings in Pinterest were worth $2,524,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ethos Financial Group LLC lifted its position in Pinterest by 3.1% during the 4th quarter. Ethos Financial Group LLC now owns 11,803 shares of the company's stock worth $342,000 after acquiring an additional 350 shares during the period. Amalgamated Bank lifted its position in Pinterest by 0.9% during the 4th quarter. Amalgamated Bank now owns 39,792 shares of the company's stock worth $1,154,000 after acquiring an additional 372 shares during the period. Smartleaf Asset Management LLC lifted its position in Pinterest by 20.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,564 shares of the company's stock worth $75,000 after acquiring an additional 429 shares during the period. Redwood Investment Management LLC lifted its position in Pinterest by 3.2% during the 4th quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock worth $463,000 after acquiring an additional 495 shares during the period. Finally, Founders Financial Alliance LLC lifted its position in Pinterest by 5.9% during the 4th quarter. Founders Financial Alliance LLC now owns 10,056 shares of the company's stock worth $292,000 after acquiring an additional 560 shares during the period. Hedge funds and other institutional investors own 88.81% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on PINS shares. Oppenheimer raised their price target on Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, May 9th. UBS Group reduced their price target on Pinterest from $50.00 to $39.00 and set a "buy" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. raised Pinterest from a "neutral" rating to an "overweight" rating and raised their price target for the company from $35.00 to $40.00 in a report on Tuesday, June 3rd. Raymond James Financial cut Pinterest from an "overweight" rating to a "market perform" rating in a report on Monday, April 7th. Finally, KeyCorp raised their price target on Pinterest from $37.00 to $40.00 and gave the company an "overweight" rating in a 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's stock. According to data from MarketBeat.com, Pinterest presently has an average rating of "Moderate Buy" and an average price target of $40.42.

Pinterest Stock Performance

Shares of NYSE:PINS traded up $0.23 during trading on Wednesday, hitting $34.77. The company's stock had a trading volume of 7,304,707 shares, compared to its average volume of 10,899,565. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The stock's 50-day moving average price is $29.82 and its two-hundred day moving average price is $31.57. The company has a market capitalization of $23.58 billion, a PE ratio of 12.69, a PEG ratio of 1.74 and a beta of 0.91.

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

Insider Activity

In other news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $34.81, for a total transaction of $3,553,509.23. Following the completion of the sale, the director now owns 8,414 shares in the company, valued at approximately $292,891.34. This represents a 92.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 29,605 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $33.95, for a total value of $1,005,089.75. Following the completion of the sale, the chief financial officer now owns 166,408 shares of the company's stock, valued at $5,649,551.60. The trade was a 15.10% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,075,021 shares of company stock valued at $35,411,517. 7.11% of the stock is currently owned by insiders.

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.