Wealth Enhancement Advisory Services LLC Has $3.48 Million Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Wealth Enhancement Advisory Services LLC grew its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 21.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 112,201 shares of the company's stock after purchasing an additional 19,552 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Pinterest were worth $3,478,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of 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. Ameriprise Financial Inc. grew its holdings in shares of Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after buying an additional 4,527,902 shares in the last quarter. FMR LLC grew its holdings in shares of Pinterest by 2.6% during the fourth quarter. FMR LLC now owns 12,599,356 shares of the company's stock worth $365,381,000 after buying an additional 316,633 shares in the last quarter. Norges Bank bought a new stake in Pinterest in the 4th quarter valued at approximately $358,205,000. Finally, Marshall Wace LLP lifted 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 acquiring an additional 6,129,985 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Price Performance

NYSE:PINS opened at $35.13 on Friday. Pinterest, Inc. has a one year low of $23.68 and a one year high of $44.79. The company has a market cap of $23.83 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.74 and a beta of 0.91. The firm's fifty day moving average price is $30.84 and its two-hundred day moving average price is $31.70.

Pinterest (NYSE:PINS - Get Free Report) last released 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). Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The company had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Pinterest's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total value of $31,050.00. Following the transaction, the director now directly owns 26,786 shares in the company, valued at approximately $723,222. This represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the completion of the transaction, the director now owns 6,274 shares in the company, valued at $196,187.98. This trade represents a 94.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,164,852 shares of company stock worth $38,812,675 over the last ninety days. Insiders own 7.06% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PINS. Bank of America decreased their price target on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. TD Cowen lowered their price objective on shares of Pinterest from $46.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Piper Sandler lowered their price objective on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Raymond James Financial downgraded shares of Pinterest from an "overweight" rating to a "market perform" rating in a report on Monday, April 7th. Finally, Monness Crespi & Hardt lowered their price objective on shares of Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Six equities research 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 presently has a consensus rating of "Moderate Buy" and an average target price of $40.52.

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.

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