PFG Investments LLC Has $296,000 Stake in Pinterest, Inc. (NYSE:PINS)

PFG Investments LLC trimmed its position in shares of Pinterest, Inc. (NYSE:PINS) by 7.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 9,554 shares of the company’s stock after selling 735 shares during the period. PFG Investments LLC’s holdings in Pinterest were worth $296,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PINS. Whipplewood Advisors LLC acquired a new stake in shares of Pinterest in the 4th quarter valued at approximately $28,000. NBC Securities Inc. boosted its stake in shares of Pinterest by 99,900.0% in 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 acquired a new stake in shares of Pinterest in the 1st quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL boosted its stake in shares of Pinterest by 401.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after purchasing an additional 1,204 shares in the last quarter. Finally, Huntington National Bank boosted its stake in shares of Pinterest by 484.1% in the 4th quarter. Huntington National Bank now owns 2,027 shares of the company’s stock valued at $59,000 after purchasing an additional 1,680 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total value of $3,192,135.41. Following the transaction, the director now directly owns 6,274 shares of the company’s stock, valued at approximately $196,187.98. The trade was a 94.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 29,606 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 362,890 shares in the company, valued at $12,428,982.50. This trade represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,062,769 shares of company stock valued at $35,138,708. 7.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PINS has been the topic of a number of research analyst reports. Bank of America reduced their price target on shares of Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Barclays cut their target price on shares of Pinterest from $42.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, May 9th. Citigroup lifted their target price on shares of Pinterest from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday. Oppenheimer lifted their target price on shares of Pinterest from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, May 9th. Finally, KeyCorp lifted their target price on shares of Pinterest from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Six investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and an average target price of $40.52.

Pinterest Price Performance

PINS opened at $35.37 on Thursday. The company has a market capitalization of $23.99 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 1.76 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, Inc. has a 1 year low of $23.68 and a 1 year high of $44.79.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 8.13% and a net margin of 50.41%. Pinterest’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. As a group, equities analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

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.