First Hawaiian Bank Acquires 14,296 Shares of Pinterest, Inc. (NYSE:PINS)

First Hawaiian Bank increased its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 180.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,226 shares of the company's stock after buying an additional 14,296 shares during the period. First Hawaiian Bank's holdings in Pinterest were worth $689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in shares of Pinterest by 104.3% in the fourth 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 last quarter. Ameriprise Financial Inc. grew its holdings in Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after buying an additional 4,527,902 shares in the last quarter. FMR LLC grew its holdings in Pinterest by 2.6% in the 4th quarter. FMR LLC now owns 12,599,356 shares of the company's stock valued at $365,381,000 after buying an additional 316,633 shares in the last quarter. Norges Bank bought a new position in Pinterest during the 4th quarter worth $358,205,000. Finally, Marshall Wace LLP boosted its position in shares of Pinterest by 134.1% in the fourth 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 during the period. Institutional investors own 88.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PINS. Benchmark cut 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. Wolfe Research upgraded Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price for the company in a research report on Thursday, May 15th. Wedbush restated an "outperform" rating and issued a $40.00 price target (up previously from $38.00) on shares of Pinterest in a research report on Friday, May 9th. Sanford C. Bernstein raised shares of Pinterest from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $34.00 to $47.00 in a research report on Friday, February 7th. Finally, Bank of America decreased their target price on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. Based on data from MarketBeat, Pinterest presently has a consensus rating of "Moderate Buy" and an average price target of $40.42.

Pinterest Price Performance

Shares of NYSE:PINS traded up $1.25 during mid-day trading on Tuesday, hitting $33.16. The company had a trading volume of 14,316,992 shares, compared to its average volume of 10,846,541. Pinterest, Inc. has a one year low of $23.68 and a one year high of $45.19. The company has a market capitalization of $22.49 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The firm has a fifty day moving average price of $28.55 and a 200 day moving average price of $31.25.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The company had revenue of $854.99 million for the quarter, compared to the consensus estimate of $848.49 million. During the same period last year, the company earned $0.17 EPS. Pinterest's revenue for the quarter was up 15.5% compared to the same quarter last year. Research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $31.47, for a total value of $3,212,552.01. Following the completion of the transaction, the director now owns 8,414 shares in the company, valued at $264,788.58. This represents a 92.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeremy S. Levine sold 50,535 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $33.98, for a total transaction of $1,717,179.30. Following the completion of the transaction, the director now owns 1,156,693 shares in the company, valued at approximately $39,304,428.14. The trade was a 4.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,066,426 shares of company stock valued at $34,835,253 over the last three months. Corporate insiders own 7.06% of the company's stock.

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.