First Horizon Advisors Inc. Boosts Holdings in Pinterest, Inc. (NYSE:PINS)

First Horizon Advisors Inc. lifted its stake in Pinterest, Inc. (NYSE:PINS) by 16.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,458 shares of the company’s stock after buying an additional 906 shares during the period. First Horizon Advisors Inc.’s holdings in Pinterest were worth $200,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position 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 buying an additional 12,986,310 shares during the last quarter. Ameriprise Financial Inc. grew its position in Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after purchasing an additional 4,527,902 shares during the last quarter. FMR LLC grew its position in 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 last quarter. Norges Bank purchased a new position in Pinterest during the 4th quarter worth $358,205,000. Finally, Marshall Wace LLP grew its position in Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock worth $310,352,000 after purchasing an additional 6,129,985 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Stock Performance

PINS stock opened at $35.74 on Friday. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $44.06. The company has a market cap of $24.24 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.76 and a beta of 0.94. The company’s 50-day moving average price is $32.30 and its 200 day moving average price is $31.92.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (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 business had revenue of $854.99 million during the quarter, compared to analysts’ expectations of $848.49 million. During the same period last year, the company earned $0.17 EPS. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, equities research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

PINS has been the topic of several research reports. UBS Group lowered their price objective on shares of Pinterest from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Raymond James Financial downgraded shares of Pinterest from an “overweight” rating to a “market perform” rating in a research report on Monday, April 7th. Oppenheimer raised their price objective 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. 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 research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. raised shares of Pinterest from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $35.00 to $40.00 in a research report on Tuesday, June 3rd. Six equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.52.

Insider Buying and Selling

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $35.41, for a total value of $3,614,759.03. Following the sale, the director owned 8,414 shares of the company’s stock, valued at $297,939.74. This represents a 92.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Andrea Acosta sold 3,759 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $31.86, for a total transaction of $119,761.74. Following the completion of the sale, the chief accounting officer directly owned 171,373 shares in the company, valued at $5,459,943.78. This trade represents a 2.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,176,362 shares of company stock valued at $39,645,976. 7.06% of the stock is owned by company insiders.

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.