13,657 Shares in Pinterest, Inc. (NYSE:PINS) Bought by Formidable Asset Management LLC

Formidable Asset Management LLC purchased a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,657 shares of the company's stock, valued at approximately $423,000.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in 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 buying an additional 12,986,310 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of 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 acquiring an additional 4,527,902 shares during the period. FMR LLC raised its position in shares of 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 acquiring an additional 316,633 shares during the period. Norges Bank bought a new position in Pinterest in the fourth quarter valued at approximately $358,205,000. Finally, Marshall Wace LLP lifted its stake in 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 buying an additional 6,129,985 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on PINS shares. UBS Group lifted their price objective on shares of Pinterest from $44.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Bank of America dropped their price target on Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Benchmark dropped their price target on Pinterest from $55.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. TD Cowen increased their target price on shares of Pinterest from $40.00 to $43.00 and gave the stock a "buy" rating in a report on Tuesday, July 15th. Finally, Citigroup reaffirmed a "buy" rating and issued a $44.00 price objective (up previously from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th. Five equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $41.45.

Insider Activity at Pinterest

In related news, Director Benjamin Silbermann sold 408,332 shares of the company's 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 transaction, the director owned 6,274 shares in the company, valued at $208,045.84. This represents a 98.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 1,381,678 shares of company stock worth $46,988,343 in the last ninety days. 7.11% of the stock is owned by corporate insiders.

Pinterest Stock Up 2.3%

Shares of PINS traded up $0.87 during trading hours on Monday, hitting $37.98. The company had a trading volume of 13,888,885 shares, compared to its average volume of 11,098,075. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $42.02. The stock's 50 day moving average price is $34.13 and its 200 day moving average price is $32.39. The firm has a market cap of $25.76 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.83 and a beta of 0.94.

Pinterest (NYSE:PINS - Get Free Report) last announced 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 company 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 business's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 EPS. On average, research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal 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.