Highland Capital Management LLC Takes Position in Pinterest, Inc. (NYSE:PINS)

Highland Capital Management LLC bought a new stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 44,853 shares of the company's stock, valued at approximately $1,390,000.

A number of other large investors also recently bought and sold shares of PINS. Bartlett & CO. Wealth Management LLC acquired a new stake in Pinterest during the 1st quarter worth $25,000. Garde Capital Inc. acquired a new stake in shares of Pinterest in the first quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new position in Pinterest during the fourth quarter worth approximately $28,000. NBC Securities Inc. boosted its stake in Pinterest by 99,900.0% during the first 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. Finally, American National Bank & Trust purchased a new stake in Pinterest in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 88.81% of the company's stock.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm's 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 approximately $723,222. This trade represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin Silbermann sold 408,332 shares of the company's stock in a transaction 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 now directly owns 6,274 shares in the company, valued at approximately $208,045.84. This trade represents a 98.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,164,852 shares of company stock valued at $38,812,675. 7.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PINS has been the topic of several recent research reports. Morgan Stanley boosted their price target on shares of Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. TD Cowen dropped their price target on shares of Pinterest from $46.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Stifel Nicolaus reduced their price target on shares of Pinterest from $50.00 to $36.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and issued a $40.00 price objective (up from $38.00) on shares of Pinterest in a report on Friday, May 9th. Finally, Oppenheimer upped their target price on shares of Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Six investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.52.

Pinterest Stock Down 0.4%

Shares of NYSE PINS traded down $0.14 during mid-day trading on Monday, hitting $35.81. 1,934,764 shares of the company were exchanged, compared to its average volume of 12,293,731. The stock has a 50 day simple moving average of $31.25 and a 200-day simple moving average of $31.75. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $44.06. The firm has a market cap of $24.29 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91.

Pinterest (NYSE:PINS - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $848.49 million. During the same quarter last year, the business posted $0.17 EPS. The firm's revenue was up 15.5% on a year-over-year basis. Analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

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.