Cetera Investment Advisers Acquires 79,306 Shares of Pinterest, Inc. (NYSE:PINS)

Key Points

• Cetera Investment Advisers increased its stake in Pinterest by 92.2% during the first quarter, owning 165,286 shares valued at $5.12 million.
• Several hedge funds notably boosted their positions in Pinterest during the last quarter, with Price T Rowe Associates Inc. increasing its holdings by 104.3%, now owning over 25 million shares worth approximately $737.5 million.
• Pinterest reported earnings of $0.23 per share, missing the consensus estimate of $0.25, while quarterly revenues were up 15.5% year-over-year, amounting to $854.99 million.

Cetera Investment Advisers boosted its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 92.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 165,286 shares of the company's stock after purchasing an additional 79,306 shares during the period. Cetera Investment Advisers' holdings in Pinterest were worth $5,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Pinterest during the first quarter worth about $25,000. Garde Capital Inc. bought a new position in shares of Pinterest in the 1st quarter worth about $26,000. NBC Securities Inc. increased its stake in Pinterest by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after buying an additional 999 shares during the period. American National Bank & Trust acquired a new position in shares of Pinterest in the 1st quarter worth approximately $32,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Pinterest by 665.4% during the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock worth $38,000 after purchasing an additional 1,058 shares during the period. Institutional investors own 88.81% of the company's stock.

Pinterest Trading Down 2.2%

NYSE:PINS traded down $0.84 during trading hours on Friday, hitting $37.76. The stock had a trading volume of 11,842,533 shares, compared to its average volume of 8,226,086. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The company has a market cap of $25.61 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.89 and a beta of 0.78. The business has a 50 day simple moving average of $35.30 and a two-hundred day simple moving average of $32.88.

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 8.13% and a net margin of 50.41%. The business had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. During the same quarter last year, the firm posted $0.17 earnings per share. Pinterest's revenue was up 15.5% compared to the same quarter last year. Research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity at Pinterest

In related news, Director Benjamin Silbermann sold 408,332 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total value of $13,540,289.12. Following the transaction, the director owned 6,274 shares in the company, valued at $208,045.84. This trade represents a 98.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,502,611 shares of company stock valued at $51,602,943 in the last three months. Corporate insiders own 7.11% of the company's stock.

Analyst Upgrades and Downgrades

PINS has been the topic of several analyst reports. UBS Group upped their target price on shares of Pinterest from $44.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Benchmark increased their target price on shares of Pinterest from $45.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Oppenheimer increased their price target on Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Sanford C. Bernstein lifted their target price on Pinterest from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. 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-three have issued a buy rating to the stock. According to MarketBeat.com, Pinterest has a consensus rating of "Moderate Buy" and an average price target of $41.48.

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.