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Pinterest, Inc. (NYSE:PINS) Shares Bought by Founders Financial Alliance LLC

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Key Points

  • Founders Financial Alliance LLC increased its holdings in Pinterest by 135.5%, owning 23,684 shares valued at approximately $734,000.
  • Pinterest reported earnings of $0.33 per share for the last quarter, slightly missing analysts' expectations, while revenues grew by 16.9% year-over-year to $998.23 million.
  • Institutional ownership of Pinterest stock stands at 88.81%, with several investment firms actively buying and selling shares during the first quarter.
  • Want stock alerts on Pinterest? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Founders Financial Alliance LLC raised its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 135.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,684 shares of the company's stock after purchasing an additional 13,628 shares during the period. Founders Financial Alliance LLC's holdings in Pinterest were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PINS. Bartlett & CO. Wealth Management LLC acquired a new position in Pinterest in the first quarter valued at approximately $25,000. Garde Capital Inc. acquired a new stake in Pinterest during the first quarter worth approximately $26,000. NBC Securities Inc. lifted its position in shares of Pinterest by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock worth $31,000 after buying an additional 999 shares during the last quarter. American National Bank & Trust acquired a new position in shares of Pinterest in the 1st quarter valued at $32,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Pinterest by 665.4% in the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock valued at $38,000 after buying an additional 1,058 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction dated 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 transaction, the director owned 8,414 shares in the company, valued at approximately $319,311.30. The trade was a 92.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $36.88, for a total transaction of $42,412.00. Following the completion of the sale, the director directly owned 31,750 shares in the company, valued at $1,170,940. This trade represents a 3.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,502,611 shares of company stock worth $51,602,943 in the last 90 days. Insiders own 7.06% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PINS. JPMorgan Chase & Co. upgraded shares of Pinterest from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $35.00 to $40.00 in a research note on Tuesday, June 3rd. Barclays lifted their target price on Pinterest from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday. Stifel Nicolaus upped their target price on Pinterest from $46.00 to $47.00 and gave the company a "buy" rating in a research report on Friday. KeyCorp raised their price target on Pinterest from $40.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Finally, Benchmark boosted their price objective on Pinterest from $45.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Five equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.40.

View Our Latest Report on PINS

Pinterest Stock Down 10.2%

Shares of PINS traded down $3.98 on Friday, reaching $35.19. The stock had a trading volume of 37,460,885 shares, compared to its average volume of 9,693,246. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $40.90. The firm has a market capitalization of $23.87 billion, a PE ratio of 12.61, a PEG ratio of 1.76 and a beta of 0.78. The firm has a 50-day moving average of $36.01 and a 200 day moving average of $33.13.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). Pinterest had a return on equity of 8.80% and a net margin of 49.31%. The firm had revenue of $998.23 million for the quarter, compared to analysts' expectations of $973.42 million. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The firm's revenue for the quarter was up 16.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Pinterest Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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