Lifestyle Asset Management Inc. Acquires Shares of 29,394 Pinterest, Inc. (NYSE:PINS)

Lifestyle Asset Management Inc. purchased a new stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,394 shares of the company's stock, valued at approximately $911,000.

Other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position 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 acquiring an additional 11,925 shares during the period. Savant Capital LLC boosted its position in Pinterest by 47.0% during the 4th quarter. Savant Capital LLC now owns 15,094 shares of the company's stock worth $438,000 after acquiring an additional 4,827 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in Pinterest in the fourth quarter valued at $252,000. Ninety One UK Ltd raised its holdings in Pinterest by 5.4% during the fourth quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company's stock worth $158,677,000 after acquiring an additional 278,362 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Pinterest by 27.2% in the 4th quarter. US Bancorp DE now owns 23,698 shares of the company's stock valued at $687,000 after buying an additional 5,063 shares during the last quarter. Institutional investors own 88.81% of the company's stock.

Wall Street Analysts Forecast Growth

PINS has been the topic of a number of recent analyst reports. UBS Group lowered their price target on Pinterest from $50.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Stifel Nicolaus decreased their target price on Pinterest from $50.00 to $36.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Benchmark cut their price target on Pinterest from $55.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company reduced their price objective on shares of Pinterest from $47.00 to $42.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Finally, Morgan Stanley lifted 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. Six investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Pinterest has a consensus rating of "Moderate Buy" and an average price target of $40.42.

Pinterest Stock Performance

Shares of PINS stock traded up $0.42 during trading hours on Friday, hitting $34.18. 8,105,663 shares of the company were exchanged, compared to its average volume of 10,894,674. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The firm has a market cap of $23.18 billion, a P/E ratio of 12.71, a P/E/G ratio of 1.95 and a beta of 0.83. The company has a 50 day simple moving average of $28.67 and a two-hundred day simple moving average of $31.31.

Pinterest (NYSE:PINS - Get Free Report) last issued 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). The firm had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Pinterest's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 earnings per share. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other news, CAO Andrea Acosta sold 3,759 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $31.86, for a total value of $119,761.74. Following the transaction, the chief accounting officer now owns 171,373 shares in the company, valued at $5,459,943.78. The trade was a 2.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 29,605 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $33.95, for a total value of $1,005,089.75. Following the sale, the chief financial officer now directly owns 166,408 shares of the company's stock, valued at approximately $5,649,551.60. This represents a 15.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,075,437 shares of company stock worth $35,044,674. Corporate insiders own 7.06% of the company's stock.

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.