Smith Group Asset Management LLC Purchases 55,839 Shares of Pinterest, Inc. (NYSE:PINS)

Smith Group Asset Management LLC grew its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 9.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 645,553 shares of the company's stock after buying an additional 55,839 shares during the quarter. Smith Group Asset Management LLC owned approximately 0.10% of Pinterest worth $20,012,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Pinterest by 104.3% during the fourth 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 period. Norges Bank acquired a new stake in Pinterest during the 4th quarter worth approximately $358,205,000. Marshall Wace LLP boosted its stake in Pinterest by 134.1% in the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock valued at $310,352,000 after purchasing an additional 6,129,985 shares during the period. Ameriprise Financial Inc. boosted its stake in Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after purchasing an additional 4,527,902 shares during the period. Finally, Contour Asset Management LLC acquired a new position in Pinterest in the 4th quarter valued at $86,330,000. Institutional investors own 88.81% of the company's stock.

Pinterest Price Performance

Shares of PINS stock traded down $0.15 on Tuesday, reaching $35.71. 8,238,875 shares of the company were exchanged, compared to its average volume of 11,019,906. The company has a 50-day moving average of $31.48 and a 200-day moving average of $31.78. The company has a market cap of $24.22 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 1.77 and a beta of 0.91. Pinterest, Inc. has a one year low of $23.68 and a one year high of $44.06.

Pinterest (NYSE:PINS - Get Free Report) last announced 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 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 firm's revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 EPS. As a group, sell-side analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on PINS. Monness Crespi & Hardt decreased their price target on shares of Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Oppenheimer lifted their price objective on shares of Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. KeyCorp boosted their price target on Pinterest from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Wolfe Research raised shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 price objective for the company in a research note on Thursday, May 15th. Finally, Barclays dropped their target price on Pinterest from $42.00 to $38.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Six research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $40.52.

Insiders Place Their Bets

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,510 shares of Pinterest stock in a transaction 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 transaction, the insider directly owned 390,230 shares of the company's stock, valued at $13,923,406.40. The trade was a 2.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 29,606 shares of Pinterest stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the transaction, the chief financial officer directly owned 362,890 shares in the company, valued at approximately $12,428,982.50. This represents a 7.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,176,362 shares of company stock worth $39,223,352 in the last quarter. Insiders own 7.06% of the company's stock.

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.