Generate Investment Management Ltd Buys 361,378 Shares of Pinterest, Inc. (NYSE:PINS)

Generate Investment Management Ltd increased its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 89.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 767,394 shares of the company's stock after buying an additional 361,378 shares during the quarter. Pinterest accounts for 1.7% of Generate Investment Management Ltd's portfolio, making the stock its 15th largest position. Generate Investment Management Ltd owned about 0.11% of Pinterest worth $23,789,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp lifted its position in Pinterest by 91.3% in the fourth quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company's stock valued at $725,000 after purchasing an additional 11,925 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Pinterest by 73.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 89,034 shares of the company's stock valued at $2,760,000 after buying an additional 37,829 shares during the period. Revolve Wealth Partners LLC bought a new stake in Pinterest in the 4th quarter worth $252,000. US Bancorp DE increased its position in shares of Pinterest by 27.2% in the fourth quarter. US Bancorp DE now owns 23,698 shares of the company's stock valued at $687,000 after acquiring an additional 5,063 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Pinterest by 642.8% during the first quarter. Farther Finance Advisors LLC now owns 9,404 shares of the company's stock valued at $292,000 after acquiring an additional 8,138 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

Pinterest Stock Down 1.0%

Shares of Pinterest stock traded down $0.37 during trading hours on Wednesday, reaching $35.37. 7,637,451 shares of the stock traded hands, compared to its average volume of 10,924,649. Pinterest, Inc. has a one year low of $23.68 and a one year high of $45.19. The firm has a market capitalization of $23.99 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 1.68 and a beta of 0.91. The company has a 50 day moving average price of $30.64 and a 200 day moving average price of $31.67.

Pinterest (NYSE:PINS - Get Free Report) last posted 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 8.13% and a net margin of 50.41%. The business had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. During the same period in the previous year, the business posted $0.17 EPS. The business's quarterly revenue was up 15.5% compared to the same quarter last year. Sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 12,253 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $32.24, for a total transaction of $395,036.72. Following the sale, the insider now directly owns 228,510 shares in the company, valued at $7,367,162.40. This trade represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total value of $31,050.00. Following the completion of the sale, the director now owns 26,786 shares of the company's stock, valued at $723,222. The trade was a 4.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,045,416 shares of company stock worth $34,519,739 in the last 90 days. 7.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

PINS has been the topic of a number of recent analyst reports. Monness Crespi & Hardt cut their price objective on Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. BMO Capital Markets cut their price objective on Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. UBS Group reduced their target price on Pinterest from $50.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. upgraded Pinterest from a "neutral" rating to an "overweight" rating and raised their target price for the company from $35.00 to $40.00 in a research note on Tuesday, June 3rd. Finally, The Goldman Sachs Group reduced their price target on Pinterest from $47.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, Pinterest currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.52.

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.