Net Worth Advisory Group Purchases Shares of 15,793 Pinterest, Inc. (NYSE:PINS)

Net Worth Advisory Group acquired a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 15,793 shares of the company's stock, valued at approximately $490,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its position in shares of Pinterest by 104.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after buying an additional 12,986,310 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after acquiring an additional 4,527,902 shares in the last quarter. FMR LLC boosted its position in shares of Pinterest by 2.6% during the 4th quarter. FMR LLC now owns 12,599,356 shares of the company's stock valued at $365,381,000 after acquiring an additional 316,633 shares during the last quarter. Norges Bank purchased a new position in shares of Pinterest during the fourth quarter worth about $358,205,000. Finally, Marshall Wace LLP grew its stake in Pinterest by 134.1% in the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock worth $310,352,000 after buying an additional 6,129,985 shares in the last quarter. Institutional investors own 88.81% of the company's stock.

Insiders Place Their Bets

In other news, CAO Andrea Acosta sold 3,759 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $31.86, for a total value of $119,761.74. Following the completion of the sale, the chief accounting officer now owns 171,373 shares in the company, valued at approximately $5,459,943.78. The trade was a 2.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total transaction of $31,050.00. Following the sale, the director now directly owns 26,786 shares of the company's stock, valued at approximately $723,222. The trade was a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,177,104 shares of company stock valued at $38,592,423 over the last ninety days. 7.06% of the stock is owned by insiders.

Pinterest Price Performance

Shares of PINS stock traded up $1.37 during trading hours on Monday, hitting $35.21. The stock had a trading volume of 6,404,564 shares, compared to its average volume of 10,920,697. The stock's 50-day moving average price is $29.48 and its two-hundred day moving average price is $31.51. Pinterest, Inc. has a one year low of $23.68 and a one year high of $45.19. The stock has a market capitalization of $23.88 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 1.95 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). The firm had revenue of $854.99 million for the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The firm's revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 earnings per share. As a group, equities research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PINS shares. BMO Capital Markets decreased their price objective on Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. The Goldman Sachs Group cut their price objective on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, April 14th. UBS Group decreased their target price on shares of Pinterest from $50.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. TD Cowen cut their price target on shares of Pinterest from $46.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Citigroup raised their price objective on Pinterest from $38.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Six research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.42.

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.