Transce3nd LLC Buys 8,171 Shares of Pinterest, Inc. (NYSE:PINS)

Transce3nd LLC lifted its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 3,154.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,430 shares of the company's stock after buying an additional 8,171 shares during the quarter. Transce3nd LLC's holdings in Pinterest were worth $261,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Redwood Investment Management LLC increased its position in shares of Pinterest by 3.2% during the fourth quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock worth $463,000 after buying an additional 495 shares during the period. EP Wealth Advisors LLC increased its position in shares of Pinterest by 9.3% during the fourth quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock worth $223,000 after buying an additional 656 shares during the period. SteelPeak Wealth LLC grew its holdings in Pinterest by 1.5% in the first quarter. SteelPeak Wealth LLC now owns 46,613 shares of the company's stock worth $1,445,000 after purchasing an additional 670 shares during the period. LRI Investments LLC grew its holdings in Pinterest by 97.7% in the first quarter. LRI Investments LLC now owns 1,374 shares of the company's stock worth $43,000 after purchasing an additional 679 shares during the period. Finally, Resonant Capital Advisors LLC grew its holdings in Pinterest by 6.2% in the first quarter. Resonant Capital Advisors LLC now owns 11,787 shares of the company's stock worth $365,000 after purchasing an additional 686 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pinterest news, Director Benjamin Silbermann sold 408,332 shares of Pinterest stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total transaction of $13,540,289.12. Following the completion of the sale, the director directly owned 6,274 shares in the company, valued at $208,045.84. The trade was a 98.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,381,678 shares of company stock worth $46,988,343 over the last three months. 7.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of Pinterest from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $35.00 to $40.00 in a report on Tuesday, June 3rd. Barclays reduced their price target on shares of Pinterest from $42.00 to $38.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Guggenheim reduced their price target on shares of Pinterest from $40.00 to $39.00 and set a "buy" rating for the company in a report on Friday, May 9th. KeyCorp raised their price target on shares of Pinterest from $40.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Benchmark dropped their price objective on shares of Pinterest from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $41.19.

Pinterest Stock Up 3.2%

NYSE:PINS traded up $1.16 during mid-day trading on Friday, hitting $37.24. 11,532,408 shares of the stock traded hands, compared to its average volume of 11,083,549. The business's 50-day moving average price is $34.13 and its 200 day moving average price is $32.36. The company has a market cap of $25.26 billion, a PE ratio of 80.18, a price-to-earnings-growth ratio of 1.78 and a beta of 0.94. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $42.02.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $854.99 million for 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%. Pinterest's revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 EPS. Analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

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.