GAMMA Investing LLC Raises Stake in Pinterest, Inc. (NYSE:PINS)

GAMMA Investing LLC boosted its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 6,326.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,696 shares of the company's stock after acquiring an additional 67,627 shares during the period. GAMMA Investing LLC's holdings in Pinterest were worth $2,216,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PINS. Whipplewood Advisors LLC purchased a new stake in Pinterest during the 4th quarter valued at about $28,000. Strategic Investment Solutions Inc. IL grew its stake in Pinterest by 401.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company's stock valued at $44,000 after acquiring an additional 1,204 shares in the last quarter. V Square Quantitative Management LLC grew its stake in Pinterest by 51.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock valued at $50,000 after acquiring an additional 590 shares in the last quarter. Huntington National Bank grew its stake in shares of Pinterest by 484.1% in the 4th quarter. Huntington National Bank now owns 2,027 shares of the company's stock valued at $59,000 after buying an additional 1,680 shares during the period. Finally, CoreCap Advisors LLC grew its stake in shares of Pinterest by 98.5% in the 4th quarter. CoreCap Advisors LLC now owns 2,096 shares of the company's stock valued at $61,000 after buying an additional 1,040 shares during the period. Hedge funds and other institutional investors own 88.81% of the company's stock.

Pinterest Price Performance

Shares of PINS traded down $0.24 during midday trading on Friday, reaching $33.78. The stock had a trading volume of 6,829,268 shares, compared to its average volume of 10,931,426. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $45.19. The company's fifty day simple moving average is $29.48 and its two-hundred day simple moving average is $31.51. The company has a market cap of $22.91 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.95 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 for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The firm had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. Pinterest's revenue for the quarter was up 15.5% compared to the same quarter last year. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PINS. Wedbush reissued an "outperform" rating and issued a $40.00 price target (up previously from $38.00) on shares of Pinterest in a research note on Friday, May 9th. Morgan Stanley increased their price target on shares of Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. UBS Group dropped their price target on shares of Pinterest from $50.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. raised shares of Pinterest from a "neutral" rating to an "overweight" rating and increased their price target for the company from $35.00 to $40.00 in a research note on Tuesday, June 3rd. Finally, Citigroup increased their price target on shares of Pinterest from $38.00 to $41.00 and gave the company a "buy" rating in a research note 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. Based on data from MarketBeat, Pinterest presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.42.

Insider Activity

In related news, Director Benjamin Silbermann sold 408,332 shares of the 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 transaction, the director now directly owns 6,274 shares of the company's stock, valued at $208,045.84. This trade represents a 98.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total transaction of $31,050.00. Following the completion of the transaction, the director now directly owns 26,786 shares in the company, valued at $723,222. This trade represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,177,104 shares of company stock worth $38,592,423. 7.06% of the stock is currently owned by corporate insiders.

About Pinterest

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.