Ashton Thomas Private Wealth LLC Acquires New Position in Pinterest, Inc. (NYSE:PINS)

Ashton Thomas Private Wealth LLC bought a new position in shares of Pinterest, Inc. (NYSE:PINS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,173 shares of the company’s stock, valued at approximately $52,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Leibman Financial Services Inc. grew its stake in shares of Pinterest by 0.9% during the second quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after purchasing an additional 266 shares during the period. Raymond James Trust N.A. grew its position in shares of Pinterest by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock worth $1,323,000 after buying an additional 319 shares during the period. Quadrant Capital Group LLC grew its position in shares of Pinterest by 40.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after buying an additional 378 shares during the period. GAMMA Investing LLC increased its stake in shares of Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after acquiring an additional 405 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its stake in Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after acquiring an additional 459 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

NYSE PINS opened at $28.86 on Monday. The stock has a market cap of $19.80 billion, a PE ratio of 137.44, a P/E/G ratio of 3.26 and a beta of 1.00. The firm has a 50-day moving average of $33.86 and a 200-day moving average of $36.97. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The firm had revenue of $853.68 million during the quarter, compared to the consensus estimate of $848.75 million. During the same period last year, the business posted ($0.04) earnings per share. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, analysts predict that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the transaction, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the transaction, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Andrea Acosta sold 2,564 shares of Pinterest stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the sale, the chief accounting officer now owns 186,906 shares of the company’s stock, valued at $8,410,770. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PINS shares. Barclays lowered their target price on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Raymond James dropped their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Wedbush cut their price target on shares of Pinterest from $46.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus dropped their price objective on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Evercore ISI reduced their target price on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.50.

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.