Sowell Financial Services LLC Purchases New Stake in Pinterest, Inc. (NYSE:PINS)

Sowell Financial Services LLC bought a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,007 shares of the company's stock, valued at approximately $434,000.

Several other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in Pinterest by 104.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock valued at $737,533,000 after buying an additional 12,986,310 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after acquiring an additional 4,527,902 shares during the last quarter. FMR LLC boosted its position in shares of Pinterest by 2.6% during the 4th quarter. FMR LLC now owns 12,599,356 shares of the company's stock worth $365,381,000 after purchasing an additional 316,633 shares during the period. Norges Bank acquired a new stake in Pinterest in the 4th quarter valued at approximately $358,205,000. Finally, Marshall Wace LLP raised its position in Pinterest by 134.1% in the fourth 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. Hedge funds and other institutional investors own 88.81% of the company's stock.

Pinterest Trading Up 5.2%

Shares of NYSE PINS traded up $1.76 during trading hours on Tuesday, reaching $35.76. The stock had a trading volume of 9,266,200 shares, compared to its average volume of 10,919,510. The firm has a market cap of $24.25 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.69 and a beta of 0.91. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The firm has a 50-day moving average of $30.44 and a 200-day moving average of $31.65.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.23 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 analysts' expectations of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 EPS. On average, equities analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PINS. Bank of America lowered their price target on Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Raymond James Financial cut Pinterest from an "overweight" rating to a "market perform" rating in a report on Monday, April 7th. BMO Capital Markets cut their price target on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. The Goldman Sachs Group reduced their price target on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley lifted their price objective on shares of Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $40.52.

Insider Activity

In related news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $33.71, for a total value of $3,441,217.93. Following the transaction, the director now directly owns 6,274 shares in the company, valued at $211,496.54. This trade represents a 94.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeremy S. Levine sold 6,274 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $34.11, for a total transaction of $214,006.14. Following the transaction, the director now owns 1,158,833 shares of the company's stock, valued at approximately $39,527,793.63. The trade was a 0.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,147,499 shares of company stock valued at $37,960,957. Insiders own 7.11% of the company's stock.

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.