Oak Thistle LLC Buys New Shares in Pinterest, Inc. (NYSE:PINS)

Oak Thistle LLC acquired a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 26,587 shares of the company's stock, valued at approximately $824,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PINS. Price T Rowe Associates Inc. MD increased its holdings in Pinterest by 104.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after purchasing an additional 12,986,310 shares in the last quarter. Norges Bank bought a new stake in Pinterest during the 4th quarter worth approximately $358,205,000. Marshall Wace LLP increased its holdings in Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock worth $310,352,000 after purchasing an additional 6,129,985 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after purchasing an additional 4,527,902 shares in the last quarter. Finally, Contour Asset Management LLC bought a new stake in Pinterest during the 4th quarter worth approximately $86,330,000. 88.81% of the stock is owned by institutional investors.

Pinterest Price Performance

Shares of NYSE:PINS traded up $0.22 during trading on Monday, hitting $38.13. 1,652,350 shares of the company were exchanged, compared to its average volume of 11,692,693. The company has a market cap of $25.86 billion, a PE ratio of 13.93, a P/E/G ratio of 1.90 and a beta of 0.94. The stock has a 50 day moving average of $34.65 and a 200 day moving average of $32.62. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The company had revenue of $854.99 million for the quarter, compared to analysts' expectations of $848.49 million. During the same quarter in the prior year, the company earned $0.17 EPS. The company's revenue was up 15.5% on a year-over-year basis. Sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Wanjiku Juanita Walcott sold 11,510 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $35.68, for a total value of $410,676.80. Following the sale, the insider owned 390,230 shares in the company, valued at approximately $13,923,406.40. This trade represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Matthew Madrigal sold 20,000 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $38.58, for a total value of $771,600.00. Following the completion of the sale, the chief technology officer owned 428,823 shares in the company, valued at $16,543,991.34. This trade represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,502,611 shares of company stock valued at $51,602,943 in the last ninety days. 7.11% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on PINS. 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. Guggenheim reaffirmed a "buy" rating on shares of Pinterest in a report on Monday. The Goldman Sachs Group reduced their target price on Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a report on Monday, April 14th. 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, Wells Fargo & Company set a $42.00 target price on Pinterest and gave the company an "overweight" rating in a report on Tuesday, July 1st. Five equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $41.81.

About Pinterest

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.