Pursue Wealth Partners LLC Makes New Investment in Pinterest, Inc. (NYSE:PINS)

Pursue Wealth Partners LLC purchased a new stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,640 shares of the company's stock, valued at approximately $237,000.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted 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 valued at $737,533,000 after purchasing an additional 12,986,310 shares during the period. Norges Bank acquired a new stake in shares of Pinterest in the fourth quarter valued at approximately $358,205,000. Marshall Wace LLP lifted its stake in shares of Pinterest by 134.1% during the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock valued at $310,352,000 after acquiring an additional 6,129,985 shares during the period. Ameriprise Financial Inc. lifted its holdings in Pinterest by 49.7% in the fourth 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 period. Finally, Contour Asset Management LLC bought a new position in Pinterest during the fourth quarter worth about $86,330,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on PINS shares. Wedbush reissued an "outperform" rating and set a $40.00 price target (up from $38.00) on shares of Pinterest in a research report on Friday, May 9th. Morgan Stanley raised their price target on shares of Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. KeyCorp upped their price target on shares of Pinterest from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. TD Cowen cut their target price on Pinterest from $46.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, BMO Capital Markets reduced their target price on Pinterest from $46.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Six analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, Pinterest currently has an average rating of "Moderate Buy" and an average price target of $40.52.

Insiders Place Their Bets

In other news, Director Benjamin Silbermann sold 102,083 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $34.82, for a total value of $3,554,530.06. Following the completion of the sale, the director now owns 8,414 shares in the company, valued at approximately $292,975.48. The trade was a 92.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Andrea Acosta sold 3,759 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $31.86, for a total value of $119,761.74. Following the sale, the chief accounting officer now directly owns 171,373 shares in the company, valued at $5,459,943.78. This trade represents a 2.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,147,499 shares of company stock valued at $37,960,957 in the last three months. Corporate insiders own 7.11% of the company's stock.

Pinterest Price Performance

Shares of PINS stock traded up $1.76 during mid-day trading on Tuesday, hitting $35.76. The company had a trading volume of 9,266,200 shares, compared to its average volume of 10,937,793. The company has a market capitalization of $24.25 billion, a P/E ratio of 13.05, a P/E/G ratio of 1.68 and a beta of 0.91. The stock's 50 day moving average price is $30.64 and its 200-day moving average price is $31.67. 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 issued its 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 firm had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The company's revenue for the quarter 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 expect that Pinterest, Inc. will post 0.6 earnings per share for the current 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.