Pinterest, Inc. (NYSE:PINS) Shares Purchased by Merit Financial Group LLC

Merit Financial Group LLC increased its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 231.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,469 shares of the company's stock after purchasing an additional 28,962 shares during the quarter. Merit Financial Group LLC's holdings in Pinterest were worth $1,286,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PINS. Revolve Wealth Partners LLC purchased a new stake in Pinterest during the 4th quarter worth about $252,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Pinterest by 1.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 121,474 shares of the company's stock worth $3,523,000 after buying an additional 1,745 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in Pinterest during the 4th quarter worth about $1,811,000. Generate Investment Management Ltd lifted its holdings in Pinterest by 97.2% during the 4th quarter. Generate Investment Management Ltd now owns 406,016 shares of the company's stock worth $11,774,000 after buying an additional 200,135 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in Pinterest by 13.7% during the 4th quarter. Empowered Funds LLC now owns 10,420 shares of the company's stock worth $302,000 after buying an additional 1,255 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PINS has been the subject of several research reports. BMO Capital Markets reduced their target price on Pinterest from $46.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, May 9th. UBS Group reduced their target price on Pinterest from $50.00 to $39.00 and set a "buy" rating for the company in a report on Friday, April 11th. Bank of America reduced their target price on Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Piper Sandler reduced their target price on Pinterest from $41.00 to $34.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Finally, Benchmark reduced their target price on Pinterest from $55.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.42.

Pinterest Price Performance

Shares of PINS stock traded down $0.03 during trading hours on Monday, reaching $34.17. 9,881,645 shares of the company's stock were exchanged, compared to its average volume of 10,874,363. The company has a market cap of $23.18 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. The company's 50 day moving average is $28.79 and its two-hundred day moving average is $31.40. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations of $848.49 million. Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The business's quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the company posted $0.17 earnings per share. As a group, analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 12,253 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $32.24, for a total value of $395,036.72. Following the sale, the insider now owns 228,510 shares in the company, valued at $7,367,162.40. This represents a 5.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total value of $31,050.00. Following the completion of the sale, the director now owns 26,786 shares in the company, valued at approximately $723,222. This represents a 4.12% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,068,747 shares of company stock valued at $34,824,908. Corporate insiders own 7.06% of the company's stock.

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.