Hohimer Wealth Management LLC Buys 51,179 Shares of Pinterest, Inc. (NYSE:PINS)

Hohimer Wealth Management LLC lifted its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 62.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,855 shares of the company's stock after purchasing an additional 51,179 shares during the quarter. Hohimer Wealth Management LLC's holdings in Pinterest were worth $4,119,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after purchasing an additional 12,986,310 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after purchasing an additional 4,527,902 shares in the last quarter. FMR LLC grew its holdings in shares of Pinterest by 2.6% during the fourth quarter. FMR LLC now owns 12,599,356 shares of the company's stock worth $365,381,000 after purchasing an additional 316,633 shares in the last quarter. Norges Bank purchased a new stake in Pinterest in the fourth quarter worth approximately $358,205,000. Finally, Marshall Wace LLP boosted its stake in Pinterest by 134.1% in the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock worth $310,352,000 after buying an additional 6,129,985 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PINS. Guggenheim cut their target price on Pinterest from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, May 9th. UBS Group cut their target price on Pinterest from $50.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, April 11th. The Goldman Sachs Group cut their target price on Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Citigroup reissued a "buy" rating and set a $44.00 price objective (up previously from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company set a $42.00 price objective on Pinterest and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, Pinterest has a consensus rating of "Moderate Buy" and an average price target of $40.52.

Pinterest Price Performance

Shares of NYSE:PINS opened at $35.45 on Monday. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $42.20. The business has a fifty day moving average price of $33.27 and a 200-day moving average price of $32.15. The company has a market capitalization of $24.04 billion, a PE ratio of 12.94, a PEG ratio of 1.75 and a beta of 0.94.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. Pinterest's quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 earnings per share. On average, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 29,606 shares of Pinterest stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the transaction, the chief financial officer directly owned 362,890 shares of the company's stock, valued at $12,428,982.50. The trade was a 7.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin Silbermann sold 408,332 shares of the business'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 value of $13,540,289.12. Following the completion of the transaction, the director directly owned 6,274 shares in the company, valued at approximately $208,045.84. This represents a 98.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,278,445 shares of company stock worth $43,269,922 over the last three months. Insiders own 7.11% of the company's stock.

Pinterest Profile

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.

Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.