Pallas Capital Advisors LLC Raises Stock Position in Pinterest, Inc. (NYSE:PINS)

Pallas Capital Advisors LLC grew its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 100.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,698 shares of the company's stock after acquiring an additional 23,394 shares during the period. Pallas Capital Advisors LLC's holdings in Pinterest were worth $1,448,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new position in shares of Pinterest during the fourth quarter valued at approximately $28,000. NBC Securities Inc. boosted its holdings in Pinterest by 99,900.0% in the first quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock worth $31,000 after purchasing an additional 999 shares during the last quarter. American National Bank & Trust purchased a new position in shares of Pinterest during the 1st quarter worth $32,000. Strategic Investment Solutions Inc. IL boosted its stake in shares of Pinterest by 401.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company's stock worth $44,000 after acquiring an additional 1,204 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in shares of Pinterest by 51.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock worth $50,000 after acquiring an additional 590 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Stock Down 2.1%

Shares of NYSE:PINS traded down $0.73 during midday trading on Thursday, reaching $34.02. The company's stock had a trading volume of 6,298,066 shares, compared to its average volume of 10,906,500. The firm has a market capitalization of $23.07 billion, a PE ratio of 12.65, a P/E/G ratio of 1.95 and a beta of 0.91. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $45.19. The stock has a fifty day moving average of $29.12 and a 200 day moving average of $31.45.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). The business had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The firm's revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. Sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total value of $31,050.00. Following the transaction, the director now directly owns 26,786 shares of the company's stock, valued at approximately $723,222. This trade represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Wanjiku Juanita Walcott sold 12,253 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $32.24, for a total transaction of $395,036.72. Following the completion of the transaction, the insider now directly owns 228,510 shares in the company, valued at approximately $7,367,162.40. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,177,104 shares of company stock worth $38,592,423. 7.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PINS has been the topic of a number of analyst reports. TD Cowen lowered their target price on shares of Pinterest from $46.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Guggenheim cut their price target on shares of Pinterest from $40.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Wells Fargo & Company cut their price target on shares of Pinterest from $47.00 to $42.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Barclays dropped 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, BMO Capital Markets lowered their price target on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Six analysts have rated the stock with a hold rating and twenty-four have given 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 a consensus target price of $40.42.

Pinterest 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.