NorthCrest Asset Manangement LLC Invests $284,000 in Pinterest, Inc. (NYSE:PINS)

NorthCrest Asset Manangement LLC bought a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,159 shares of the company's stock, valued at approximately $284,000.

Other institutional investors have also modified their holdings of the company. Revolve Wealth Partners LLC purchased a new position in Pinterest during the 4th quarter valued at about $252,000. Empowered Funds LLC boosted its stake in shares of Pinterest by 13.7% during 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. Savant Capital LLC increased its holdings in Pinterest by 47.0% during the fourth quarter. Savant Capital LLC now owns 15,094 shares of the company's stock valued at $438,000 after buying an additional 4,827 shares during the period. Avestar Capital LLC purchased a new position in Pinterest during the fourth quarter valued at approximately $229,000. Finally, Asset Management One Co. Ltd. raised its stake in Pinterest by 10.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 226,972 shares of the company's stock worth $6,709,000 after buying an additional 20,966 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Price Performance

PINS stock traded up $1.37 during mid-day trading on Monday, reaching $35.21. 8,255,954 shares of the company's stock were exchanged, compared to its average volume of 10,920,716. The company has a market cap of $23.88 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $45.19. The stock's 50 day moving average is $29.48 and its 200 day moving average is $31.51.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results 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 return on equity of 8.10% and a net margin of 51.07%. The company had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. During the same period in the previous year, the firm posted $0.17 EPS. Pinterest's revenue was up 15.5% compared to the same quarter last year. On average, research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. TD Cowen cut their price target on Pinterest from $46.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Monness Crespi & Hardt cut their target price on Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. UBS Group decreased their price target on shares of Pinterest from $50.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Wolfe Research upgraded shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 price target on the stock in a report on Thursday, May 15th. Finally, BMO Capital Markets reduced their price objective on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating for the company in a research note 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.42.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 29,605 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $33.95, for a total transaction of $1,005,089.75. Following the transaction, the chief financial officer now owns 166,408 shares of the company's stock, valued at approximately $5,649,551.60. The trade was a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, the director now directly owns 6,274 shares of the company's stock, valued at $208,045.84. This represents a 98.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,177,104 shares of company stock worth $38,592,423. 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.