Pinterest, Inc. (NYSE:PINS) Holdings Boosted by Private Advisor Group LLC

Private Advisor Group LLC raised its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 42.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,204 shares of the company's stock after buying an additional 27,661 shares during the period. Private Advisor Group LLC's holdings in Pinterest were worth $2,858,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PINS. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Pinterest in the 1st quarter valued at about $25,000. Garde Capital Inc. acquired a new stake in shares of Pinterest in the 1st quarter valued at about $26,000. NBC Securities Inc. raised its stake in shares of Pinterest by 99,900.0% in the 1st 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 stake in shares of Pinterest in the 1st quarter valued at about $32,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Pinterest by 665.4% in the 1st 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 owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 29,606 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the completion of the sale, the chief financial officer directly owned 362,890 shares in the company, valued at approximately $12,428,982.50. This trade represents a 7.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $37.95, for a total transaction of $3,874,049.85. Following the sale, the director owned 8,414 shares of the company's stock, valued at $319,311.30. The trade was a 92.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,502,611 shares of company stock valued at $51,602,943 in the last ninety days. 7.06% of the stock is owned by company insiders.

Pinterest Price Performance

Shares of Pinterest stock traded up $0.23 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. The business has a 50-day simple moving average of $34.65 and a 200-day simple moving average of $32.61. The company has a market cap of $25.71 billion, a PE ratio of 13.83, a PEG ratio of 1.90 and a beta of 0.94. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data 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 50.41% and a return on equity of 8.13%. The company's revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share. On average, equities research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PINS. Wedbush upped their target price on shares of Pinterest from $40.00 to $42.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. TD Cowen increased their price objective on shares of Pinterest from $40.00 to $43.00 and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Bank of America dropped their price objective 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. Wells Fargo & Company set a $42.00 price objective on shares of Pinterest and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, Piper Sandler dropped their price objective on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Five 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.81.

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.