Left Brain Wealth Management LLC Makes New Investment in Pinterest, Inc. (NYSE:PINS)

Left Brain Wealth Management LLC purchased a new position in Pinterest, Inc. (NYSE:PINS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,300 shares of the company's stock, valued at approximately $319,000.

Other large investors have also recently made changes to their positions in the company. Redwood Investment Management LLC increased its position in Pinterest by 3.2% during the 4th quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock valued at $463,000 after buying an additional 495 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Pinterest by 9.3% in the fourth quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock valued at $223,000 after purchasing an additional 656 shares during the last quarter. SteelPeak Wealth LLC increased its holdings in shares of Pinterest by 1.5% in the first quarter. SteelPeak Wealth LLC now owns 46,613 shares of the company's stock valued at $1,445,000 after purchasing an additional 670 shares during the last quarter. LRI Investments LLC raised its position in Pinterest by 97.7% in the first quarter. LRI Investments LLC now owns 1,374 shares of the company's stock valued at $43,000 after purchasing an additional 679 shares during the period. Finally, Resonant Capital Advisors LLC grew its stake in shares of Pinterest by 6.2% in the first quarter. Resonant Capital Advisors LLC now owns 11,787 shares of the company's stock valued at $365,000 after buying an additional 686 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Price Performance

Shares of NYSE:PINS traded up $0.96 on Monday, reaching $36.38. 2,617,849 shares of the company traded hands, compared to its average volume of 11,045,588. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $42.20. The company's 50 day moving average is $33.27 and its 200-day moving average is $32.15. The stock has a market capitalization of $24.67 billion, a PE ratio of 13.25, a P/E/G ratio of 1.75 and a beta of 0.94.

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

Insiders Place Their Bets

In other news, Director Jeremy S. Levine sold 6,274 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $34.11, for a total value of $214,006.14. Following the completion of the sale, the director owned 1,158,833 shares in the company, valued at $39,527,793.63. This represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Donnelly Julia Brau sold 29,606 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total value of $1,014,005.50. Following the sale, the chief financial officer owned 362,890 shares of the company's stock, valued at approximately $12,428,982.50. This represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,278,445 shares of company stock worth $43,269,922 over the last three months. Company insiders own 7.11% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PINS shares. Citigroup reiterated a "buy" rating and issued a $44.00 price target (up from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th. JPMorgan Chase & Co. raised Pinterest from a "neutral" rating to an "overweight" rating and upped their target price for the company from $35.00 to $40.00 in a research report on Tuesday, June 3rd. KeyCorp upped their target price on Pinterest from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Morgan Stanley upped their target price on Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Finally, The Goldman Sachs Group decreased their target price on Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $40.52.

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.