Prospect Financial Group LLC trimmed its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 95.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,821 shares of the company's stock after selling 224,971 shares during the period. Prospect Financial Group LLC's holdings in Pinterest were worth $366,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in Pinterest by 104.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after acquiring an additional 12,986,310 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after buying an additional 4,527,902 shares during the last quarter. FMR LLC raised its stake in Pinterest by 2.6% during the 4th quarter. FMR LLC now owns 12,599,356 shares of the company's stock valued at $365,381,000 after buying an additional 316,633 shares during the last quarter. Norges Bank purchased a new stake in Pinterest during the 4th quarter valued at $358,205,000. Finally, Marshall Wace LLP raised its stake in Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock valued at $310,352,000 after buying an additional 6,129,985 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. Morgan Stanley upgraded shares of Pinterest from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $37.00 to $45.00 in a research note on Monday, July 21st. TD Cowen boosted their target price on shares of Pinterest from $40.00 to $43.00 and gave the company a "buy" rating in a research note on Tuesday, July 15th. KeyCorp boosted their target price on shares of Pinterest from $40.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Citigroup reiterated a "buy" rating and set a $44.00 target price (up from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th. Finally, UBS Group boosted their target price on shares of Pinterest from $44.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Five research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, Pinterest has an average rating of "Moderate Buy" and a consensus target price of $41.81.
Check Out Our Latest Research Report on PINS
Insider Buying and Selling
In other Pinterest 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 value 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 $12,428,982.50. This trade represents a 7.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,510 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $35.68, for a total transaction of $410,676.80. Following the completion of the sale, the insider owned 390,230 shares of the company's stock, valued at approximately $13,923,406.40. This trade represents a 2.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,502,611 shares of company stock valued at $51,602,943 over the last quarter. Insiders own 7.11% of the company's stock.
Pinterest Stock Down 0.9%
Shares of NYSE PINS traded down $0.33 during midday trading on Tuesday, reaching $38.19. 4,102,566 shares of the company's stock traded hands, compared to its average volume of 11,669,155. The stock's 50 day simple moving average is $34.78 and its 200-day simple moving average is $32.67. Pinterest, Inc. has a one year low of $23.68 and a one year high of $40.90. The company has a market cap of $25.90 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 1.90 and a beta of 0.94.
Pinterest (NYSE:PINS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm 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 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. Equities analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.
Pinterest Profile
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Free Report)
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.
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