Janney Montgomery Scott LLC Increases Stock Position in Pinterest, Inc. (NYSE:PINS)

Janney Montgomery Scott LLC lifted its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 73.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,034 shares of the company's stock after purchasing an additional 37,829 shares during the quarter. Janney Montgomery Scott LLC's holdings in Pinterest were worth $2,760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its stake in shares of Pinterest by 91.3% in the 4th quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company's stock valued at $725,000 after buying an additional 11,925 shares during the period. Revolve Wealth Partners LLC acquired a new position in Pinterest in the fourth quarter valued at approximately $252,000. US Bancorp DE grew its position in Pinterest by 27.2% in the fourth quarter. US Bancorp DE now owns 23,698 shares of the company's stock worth $687,000 after acquiring an additional 5,063 shares during the period. Farther Finance Advisors LLC grew its position in Pinterest by 642.8% in the first quarter. Farther Finance Advisors LLC now owns 9,404 shares of the company's stock worth $292,000 after acquiring an additional 8,138 shares during the period. Finally, Norges Bank acquired a new stake in Pinterest during the fourth quarter worth $358,205,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PINS has been the subject 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 for the company in a research report on Friday, May 9th. KeyCorp increased their price objective on shares of Pinterest from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. The Goldman Sachs Group dropped their target price on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a report on Monday, April 14th. Barclays dropped their price objective on Pinterest from $42.00 to $38.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Finally, Wolfe Research raised Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price for the company in a research report on Thursday, May 15th. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Pinterest currently has an average rating of "Moderate Buy" and a consensus price target of $40.52.

Pinterest Stock Down 1.0%

Pinterest stock traded down $0.37 during mid-day trading on Wednesday, hitting $35.37. The company had a trading volume of 7,437,103 shares, compared to its average volume of 10,924,645. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $45.19. The business has a fifty day moving average of $30.64 and a 200 day moving average of $31.67. The stock has a market cap of $23.99 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.68 and a beta of 0.91.

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

Insider Activity at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 12,253 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $32.24, for a total transaction of $395,036.72. Following the completion of the sale, the insider now owns 228,510 shares in the company, valued at approximately $7,367,162.40. This represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeremy S. Levine sold 6,274 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $34.11, for a total value of $214,006.14. Following the completion of the transaction, the director now owns 1,158,833 shares in the company, valued at $39,527,793.63. This trade represents a 0.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,045,416 shares of company stock valued at $34,519,739 in the last three months. 7.11% of the stock is currently owned by company insiders.

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.