ProShare Advisors LLC Buys Shares of 26,204 Pinterest, Inc. $PINS

ProShare Advisors LLC bought a new stake in Pinterest, Inc. (NYSE:PINS) during the 4th quarter, Holdings Channel reports. The firm bought 26,204 shares of the company’s stock, valued at approximately $678,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cascade Financial Partners LLC purchased a new stake in shares of Pinterest in the fourth quarter valued at approximately $207,000. North Dakota State Investment Board purchased a new stake in Pinterest during the fourth quarter worth $539,000. iA Global Asset Management Inc. boosted its position in Pinterest by 69.8% during the fourth quarter. iA Global Asset Management Inc. now owns 87,059 shares of the company’s stock worth $2,254,000 after purchasing an additional 35,781 shares in the last quarter. AlphaCore Capital LLC purchased a new stake in Pinterest during the fourth quarter worth $286,000. Finally, Northwestern Mutual Investment Management Company LLC purchased a new stake in Pinterest during the fourth quarter worth $3,451,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 2,100 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the sale, the director directly owned 27,450 shares in the company, valued at approximately $549,000. This represents a 7.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 4,200 shares of company stock worth $84,000. 8.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wedbush cut their price target on Pinterest from $30.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Cantor Fitzgerald set a $18.00 price target on Pinterest in a research report on Friday, February 13th. KeyCorp lowered their price target on Pinterest from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, February 3rd. Barclays upped their target price on Pinterest from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $24.00 target price on shares of Pinterest in a research report on Tuesday, May 5th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $27.40.

Trending Headlines about Pinterest

Here are the key news stories impacting Pinterest this week:

• Positive Sentiment: Zacks published a bullish note calling Pinterest a top long-term value stock, which may support the stock by reinforcing the company’s appeal to value-oriented investors. Article Title
• Neutral Sentiment: Director Gokul Rajaram sold 1,050 shares in a pre-arranged Rule 10b5-1 transaction, a routine insider sale that is not necessarily a negative signal, though investors may still view it cautiously. Article Title
• Negative Sentiment: Several firms, including Rosen, Bernstein Liebhard, Schall, DJS, Pomerantz, Bragar Eagel & Squire, Portnoy, and Gross Law Firm, have publicly pushed the securities-fraud class action against Pinterest, keeping legal overhang front and center for shareholders. Article Title

Pinterest Trading Up 3.7%

Shares of NYSE PINS opened at $20.04 on Thursday. The stock’s 50 day moving average price is $19.32 and its two-hundred day moving average price is $22.03. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93. The stock has a market capitalization of $11.23 billion, a P/E ratio of 41.76, a PEG ratio of 1.05 and a beta of 0.93. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.Pinterest’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 earnings per share. On average, analysts anticipate that Pinterest, Inc. will post 0.68 earnings per share for the current fiscal year.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.