Rhumbline Advisers Has $37.23 Million Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Rhumbline Advisers raised its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,201,067 shares of the company's stock after acquiring an additional 32,530 shares during the quarter. Rhumbline Advisers owned 0.18% of Pinterest worth $37,233,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in shares of Pinterest in the fourth quarter valued at $28,000. Strategic Investment Solutions Inc. IL raised its position in shares of Pinterest by 401.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company's stock worth $44,000 after purchasing an additional 1,204 shares during the period. V Square Quantitative Management LLC raised its position in shares of Pinterest by 51.5% during the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock worth $50,000 after purchasing an additional 590 shares during the period. Huntington National Bank lifted its holdings in shares of Pinterest by 484.1% during the fourth quarter. Huntington National Bank now owns 2,027 shares of the company's stock valued at $59,000 after purchasing an additional 1,680 shares during the last quarter. Finally, CoreCap Advisors LLC increased its stake in Pinterest by 98.5% in the 4th quarter. CoreCap Advisors LLC now owns 2,096 shares of the company's stock worth $61,000 after purchasing an additional 1,040 shares in the last quarter. Institutional investors own 88.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PINS shares. Citigroup lifted their target price on shares of Pinterest from $38.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Bank of America cut their target price on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. raised Pinterest from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $35.00 to $40.00 in a research report on Tuesday. Sanford C. Bernstein upgraded Pinterest from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $34.00 to $47.00 in a report on Friday, February 7th. Finally, Rosenblatt Securities increased their price objective on Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $40.42.

Insider Buying and Selling

In other news, CAO Andrea Acosta sold 3,759 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $31.86, for a total value of $119,761.74. Following the completion of the sale, the chief accounting officer now directly owns 171,373 shares of the company's stock, valued at approximately $5,459,943.78. This represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Benjamin Silbermann sold 408,332 shares of the firm's stock in a transaction on 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 completion of the sale, the director now owns 6,274 shares in the company, valued at approximately $208,045.84. The trade was a 98.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,075,437 shares of company stock valued at $35,044,674. Company insiders own 7.06% of the company's stock.

Pinterest Stock Performance

Shares of PINS traded up $0.42 during trading hours on Friday, hitting $34.18. 8,105,663 shares of the company were exchanged, compared to its average volume of 10,894,674. The company has a market cap of $23.18 billion, a PE ratio of 12.71, a PEG ratio of 1.95 and a beta of 0.83. The firm's 50 day moving average is $28.67 and its 200-day moving average is $31.31. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last announced 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 8.10% and a net margin of 51.07%. The company had revenue of $854.99 million for the quarter, compared to the consensus estimate of $848.49 million. During the same period in the previous year, the company earned $0.17 EPS. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

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.