Wealth Enhancement Advisory Services LLC Has $2.69 Million Position in Pinterest, Inc. (NYSE:PINS)

Wealth Enhancement Advisory Services LLC lifted its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 134.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,649 shares of the company's stock after purchasing an additional 53,081 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Pinterest were worth $2,687,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PINS. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Pinterest during the 4th quarter valued at approximately $5,608,000. Probity Advisors Inc. increased its stake in Pinterest by 86.1% during the fourth quarter. Probity Advisors Inc. now owns 12,138 shares of the company's stock valued at $352,000 after purchasing an additional 5,614 shares during the last quarter. Siemens Fonds Invest GmbH lifted its position in shares of Pinterest by 679.4% in the 4th quarter. Siemens Fonds Invest GmbH now owns 48,408 shares of the company's stock worth $1,404,000 after buying an additional 42,197 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Pinterest in the 4th quarter valued at about $6,747,000. Finally, Forum Financial Management LP boosted its holdings in shares of Pinterest by 69.2% in the 4th quarter. Forum Financial Management LP now owns 14,854 shares of the company's stock valued at $431,000 after buying an additional 6,074 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.

Pinterest Trading Up 1.2%

Shares of NYSE PINS traded up $0.42 during midday trading on Friday, reaching $34.18. The company's stock had a trading volume of 8,105,657 shares, compared to its average volume of 10,894,659. Pinterest, Inc. has a one year low of $23.68 and a one year high of $45.19. The company has a market cap of $23.18 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The company has a 50 day moving average price of $28.67 and a 200 day moving average price of $31.31.

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

Insider Buying and Selling at Pinterest

In related news, Director Benjamin Silbermann sold 408,332 shares of the 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 completion of the sale, the director now directly owns 6,274 shares of the company's stock, valued at approximately $208,045.84. This represents a 98.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 29,605 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were 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 directly owns 166,408 shares in the company, valued at $5,649,551.60. The trade was a 15.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,075,437 shares of company stock valued at $35,044,674. 7.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on PINS. Guggenheim cut their target price 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. KeyCorp raised their price target on Pinterest from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Benchmark reduced their price objective on Pinterest from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. BMO Capital Markets dropped their target price on Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Finally, Stifel Nicolaus cut their target price on Pinterest from $50.00 to $36.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, Pinterest has an average rating of "Moderate Buy" and a consensus target price of $40.42.

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.