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 its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,793 shares of the company's stock, valued at approximately $490,000.

Other large investors also recently modified their holdings of the company. Revolve Wealth Partners LLC purchased a new stake in Pinterest in the fourth quarter valued at approximately $252,000. Empowered Funds LLC raised its stake in Pinterest by 13.7% in the fourth quarter. Empowered Funds LLC now owns 10,420 shares of the company's stock valued at $302,000 after purchasing an additional 1,255 shares in the last quarter. Entropy Technologies LP purchased a new stake in Pinterest in the fourth quarter valued at approximately $375,000. Stephens Inc. AR raised its stake in Pinterest by 100.5% in the fourth quarter. Stephens Inc. AR now owns 56,534 shares of the company's stock valued at $1,639,000 after purchasing an additional 28,334 shares in the last quarter. Finally, Savant Capital LLC raised its stake in Pinterest by 47.0% in the fourth quarter. Savant Capital LLC now owns 15,094 shares of the company's stock valued at $438,000 after purchasing an additional 4,827 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Insider Transactions 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 completion of the sale, the chief accounting officer now directly owns 171,373 shares in the company, valued at $5,459,943.78. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Benjamin Silbermann sold 408,332 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total value of $13,540,289.12. Following the completion of the sale, the director now owns 6,274 shares of the company's stock, valued at $208,045.84. This trade represents a 98.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,177,104 shares of company stock worth $38,592,423. Insiders own 7.06% of the company's stock.

Pinterest Stock Performance

PINS stock traded up $1.37 during midday trading on Monday, reaching $35.21. The company's stock had a trading volume of 8,256,874 shares, compared to its average volume of 10,920,877. The stock has a fifty day simple moving average of $29.69 and a two-hundred day simple moving average of $31.55. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $45.19. The firm 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 released its quarterly earnings data 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). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The business had revenue of $854.99 million for the quarter, compared to the consensus estimate of $848.49 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. Pinterest's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Oppenheimer raised their target price on shares of Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Benchmark lowered their target price 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. Morgan Stanley raised their target price on shares of Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Barclays lowered their target price on shares of Pinterest from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. raised shares of Pinterest from a "neutral" rating to an "overweight" rating and raised their target price for the company from $35.00 to $40.00 in a research note on Tuesday, June 3rd. Six equities research 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, the stock presently has an average 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.