Summit Trail Advisors LLC Acquires New Holdings in Pinterest, Inc. (NYSE:PINS)

Summit Trail Advisors LLC bought a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 29,853 shares of the company's stock, valued at approximately $925,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC purchased a new stake in Pinterest during the 1st quarter valued at $25,000. Garde Capital Inc. bought a new stake in Pinterest in the first quarter valued at $26,000. NBC Securities Inc. boosted its stake in shares of Pinterest by 99,900.0% during 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 bought a new position in Pinterest in the first quarter worth about $32,000. Finally, Golden State Wealth Management LLC raised its position 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 worth $38,000 after acquiring an additional 1,058 shares in the last quarter. Institutional investors own 88.81% of the company's stock.

Pinterest Stock Performance

PINS traded up $0.10 on Wednesday, hitting $35.78. The company had a trading volume of 8,625,920 shares, compared to its average volume of 11,022,999. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $44.06. The stock has a fifty day moving average price of $31.70 and a 200-day moving average price of $31.81. The stock has a market capitalization of $24.27 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 1.77 and a beta of 0.94.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly 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). Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The company had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. During the same period in the prior year, the business posted $0.17 earnings per share. Pinterest's revenue for the quarter was up 15.5% on a year-over-year basis. Analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PINS. Oppenheimer boosted their price target on Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Morgan Stanley lifted their price objective on Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Monness Crespi & Hardt cut their target price on Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Barclays lowered their price target 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. Finally, Wolfe Research upgraded shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price on the stock in a research note on Thursday, May 15th. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $40.52.

Insider Buying and Selling at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,510 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $35.68, for a total value of $410,676.80. Following the sale, the insider directly owned 390,230 shares in the company, valued at approximately $13,923,406.40. This trade represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 29,606 shares of the company's stock in a transaction 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 owned 362,890 shares of the company's stock, valued at approximately $12,428,982.50. This trade represents a 7.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,074,279 shares of company stock valued at $36,031,216. Company insiders own 7.11% 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.