IFP Advisors Inc Acquires 34,463 Shares of Pinterest, Inc. (NYSE:PINS)

IFP Advisors Inc raised its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 715.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,280 shares of the company's stock after buying an additional 34,463 shares during the quarter. IFP Advisors Inc's holdings in Pinterest were worth $1,218,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PINS. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Pinterest in the first quarter valued at $25,000. Garde Capital Inc. acquired a new position in shares of Pinterest in the first quarter valued at $26,000. NBC Securities Inc. raised its stake in shares of Pinterest by 99,900.0% in the first quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after purchasing an additional 999 shares in the last quarter. American National Bank & Trust acquired a new position in shares of Pinterest in the first quarter valued at $32,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Pinterest by 665.4% in the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock valued at $38,000 after purchasing an additional 1,058 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Stock Performance

NYSE:PINS traded up $0.23 during mid-day trading on Friday, hitting $37.90. The company had a trading volume of 4,248,701 shares, compared to its average volume of 8,305,104. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The firm has a market cap of $25.71 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.90 and a beta of 0.94. The business's fifty day moving average is $34.65 and its two-hundred day moving average is $32.61.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $848.49 million. During the same quarter last year, the business posted $0.17 EPS. Pinterest's quarterly revenue was up 15.5% on a year-over-year basis. Equities analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Transactions at Pinterest

In other Pinterest 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 transaction of $13,540,289.12. Following the transaction, the director owned 6,274 shares in the company, valued at approximately $208,045.84. This trade represents a 98.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,502,611 shares of company stock worth $51,602,943 in the last quarter. 7.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of recent research reports. Wolfe Research upgraded Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price for the company in a research note on Thursday, May 15th. Piper Sandler dropped their price objective on Pinterest from $41.00 to $34.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Bank of America dropped their price objective on Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Guggenheim dropped their price objective on Pinterest from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Benchmark increased their price objective on Pinterest from $45.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, Pinterest has a consensus rating of "Moderate Buy" and an average target price of $41.81.

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.