Mark Sheptoff Financial Planning LLC Makes New Investment in Pinterest, Inc. (NYSE:PINS)

Mark Sheptoff Financial Planning LLC purchased a new stake in Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,100 shares of the company’s stock, valued at approximately $137,000.

A number of other hedge funds have also modified their holdings of the business. Wellington Shields Capital Management LLC acquired a new position in Pinterest in the 2nd quarter valued at about $26,000. Hexagon Capital Partners LLC boosted its position in Pinterest by 157.7% during the second 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. GAMMA Investing LLC grew its stake in Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after acquiring an additional 405 shares during the period. Rothschild Investment LLC acquired a new position in Pinterest in the 2nd quarter valued at $35,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Pinterest during the 2nd quarter worth $40,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on PINS shares. Morgan Stanley upped their target price on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Evercore ISI cut their price objective on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. UBS Group lowered their target price on shares of Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Citigroup decreased their price target on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.50.

Pinterest Stock Up 1.8 %

Shares of Pinterest stock opened at $29.88 on Thursday. The business has a 50-day moving average price of $33.03 and a 200 day moving average price of $36.82. Pinterest, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $45.19. The firm has a market cap of $20.41 billion, a P/E ratio of 142.29, a P/E/G ratio of 3.27 and a beta of 1.00.

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

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.11% of the stock is owned by corporate 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.