6,651 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management Co. Ltd has acquired a new stake in Pinterest, Inc., purchasing 6,651 shares valued at approximately $206,000 in the first quarter.
• A significant majority, specifically 88.81%, of Pinterest's stock is owned by hedge funds and institutional investors, indicating substantial institutional interest in the company.
• Pinterest reported a 15.5% year-over-year revenue increase for the last quarter but missed earnings per share estimates, achieving $0.23 EPS against a consensus estimate of $0.25 EPS.

Harvest Fund Management Co. Ltd bought a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,651 shares of the company's stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PINS. Redwood Investment Management LLC lifted its stake in Pinterest by 3.2% during the fourth quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock worth $463,000 after purchasing an additional 495 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in Pinterest by 9.3% during the fourth quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock worth $223,000 after purchasing an additional 656 shares during the last quarter. SteelPeak Wealth LLC lifted its stake in Pinterest by 1.5% during the first quarter. SteelPeak Wealth LLC now owns 46,613 shares of the company's stock worth $1,445,000 after purchasing an additional 670 shares during the last quarter. LRI Investments LLC lifted its stake in Pinterest by 97.7% during the first quarter. LRI Investments LLC now owns 1,374 shares of the company's stock worth $43,000 after purchasing an additional 679 shares during the last quarter. Finally, Resonant Capital Advisors LLC lifted its stake in Pinterest by 6.2% during the first quarter. Resonant Capital Advisors LLC now owns 11,787 shares of the company's stock worth $365,000 after purchasing an additional 686 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Trading Down 2.2%

Shares of PINS stock traded down $0.84 during midday trading on Friday, reaching $37.76. 11,842,533 shares of the stock were exchanged, compared to its average volume of 7,633,552. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90. The company's 50 day moving average is $35.30 and its two-hundred day moving average is $32.86. The firm has a market cap of $25.61 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.94 and a beta of 0.78.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results 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 return on equity of 8.13% and a net margin of 50.41%. The firm had revenue of $854.99 million for the quarter, compared to analysts' expectations of $848.49 million. During the same quarter last year, the company posted $0.17 EPS. The firm's revenue was up 15.5% on a year-over-year basis. As a group, equities analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PINS shares. Stifel Nicolaus lifted their price target on Pinterest from $40.00 to $46.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. BMO Capital Markets lowered their target price on Pinterest from $46.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Guggenheim reissued a "buy" rating on shares of Pinterest in a research note on Monday. Monness Crespi & Hardt lowered their target price on Pinterest from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Wedbush boosted their target price on Pinterest from $40.00 to $42.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Five analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, Pinterest presently has an average rating of "Moderate Buy" and an average price target of $41.48.

Insider Buying and Selling at Pinterest

In other Pinterest 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 transaction, the director owned 6,274 shares in the company, valued at approximately $208,045.84. This represents a 98.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 1,502,611 shares of company stock worth $51,602,943. 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.