Principal Financial Group Inc. Has $1.22 Million Stock Position in Pinterest, Inc. (NYSE:PINS)

Principal Financial Group Inc. reduced its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 22.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,393 shares of the company's stock after selling 11,153 shares during the period. Principal Financial Group Inc.'s holdings in Pinterest were worth $1,221,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PINS. Redwood Investment Management LLC increased its stake in shares of Pinterest by 3.2% in the 4th quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock valued at $463,000 after purchasing an additional 495 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in Pinterest by 9.3% in the fourth quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock worth $223,000 after buying an additional 656 shares during the period. Resonant Capital Advisors LLC grew its position in Pinterest by 6.2% in the 1st quarter. Resonant Capital Advisors LLC now owns 11,787 shares of the company's stock worth $365,000 after purchasing an additional 686 shares during the period. True Wealth Design LLC increased its stake in Pinterest by 49.0% during the fourth quarter. True Wealth Design LLC now owns 2,243 shares of the company's stock worth $65,000 after acquiring an additional 738 shares during the last quarter. Finally, Mather Group LLC. raised its stake in Pinterest by 133.5% in the first quarter. Mather Group LLC. now owns 1,310 shares of the company's stock worth $41,000 after buying an additional 749 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 408,332 shares of Pinterest stock in a transaction that occurred on 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 sale, the director owned 6,274 shares of the company's stock, valued at approximately $208,045.84. The trade was a 98.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 1,381,678 shares of company stock valued at $46,988,343. 7.11% of the stock is owned by insiders.

Pinterest Stock Up 2.3%

NYSE:PINS traded up $0.87 during mid-day trading on Monday, reaching $37.98. 13,714,525 shares of the company were exchanged, compared to its average volume of 11,098,037. The stock has a market cap of $25.76 billion, a PE ratio of 13.86, a PEG ratio of 1.83 and a beta of 0.94. The company has a fifty day moving average of $34.13 and a 200 day moving average of $32.39. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $42.02.

Pinterest (NYSE:PINS - Get Free Report) last issued 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 business had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. Pinterest's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on PINS shares. Raymond James Financial lowered shares of Pinterest from an "overweight" rating to a "market perform" rating in a report on Monday, April 7th. Barclays cut their price objective on Pinterest from $42.00 to $38.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. BMO Capital Markets dropped their price objective on Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. TD Cowen upped their target price on Pinterest from $40.00 to $43.00 and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Finally, The Goldman Sachs Group dropped their price objective on Pinterest from $47.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Five analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, Pinterest has a consensus rating of "Moderate Buy" and an average target price of $41.45.

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.