Massachusetts Financial Services Co. MA Purchases 20,773 Shares of Pinterest, Inc. (NYSE:PINS)

Massachusetts Financial Services Co. MA boosted its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 932,088 shares of the company's stock after buying an additional 20,773 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.14% of Pinterest worth $28,895,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Redwood Investment Management LLC raised its stake in Pinterest by 3.2% in the fourth quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock valued at $463,000 after purchasing an additional 495 shares in the last quarter. EP Wealth Advisors LLC raised its stake in 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 in the last quarter. SteelPeak Wealth LLC raised its stake in 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 in the last quarter. LRI Investments LLC raised its stake 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 in the last quarter. Finally, Resonant Capital Advisors LLC raised its stake in 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 purchasing an additional 686 shares in the last quarter. Institutional investors own 88.81% of the company's stock.

Insider Transactions at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 408,332 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total transaction of $13,540,289.12. Following the transaction, the director owned 6,274 shares in the company, valued at approximately $208,045.84. This represents a 98.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 1,381,678 shares of company stock worth $46,988,343. 7.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wedbush raised their target price on shares of Pinterest from $40.00 to $42.00 and gave the company an "outperform" rating in a research note on Thursday. Benchmark decreased their price target on shares of Pinterest from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Raymond James Financial downgraded shares of Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. Wells Fargo & Company set a $42.00 price target on shares of Pinterest and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, Bank of America decreased their price target on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $41.19.

Pinterest Stock Up 3.2%

Shares of NYSE:PINS traded up $1.16 during midday trading on Friday, reaching $37.24. The company's stock had a trading volume of 11,532,408 shares, compared to its average volume of 11,086,834. The firm has a 50 day moving average of $34.13 and a 200-day moving average of $32.38. The firm has a market capitalization of $25.26 billion, a P/E ratio of 13.59, a PEG ratio of 1.83 and a beta of 0.94. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $42.02.

Pinterest (NYSE:PINS - Get Free Report) last announced 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). Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The firm had revenue of $854.99 million for the quarter, compared to analysts' expectations of $848.49 million. During the same period last year, the company posted $0.17 earnings per share. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. On average, research analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Pinterest Company 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.