Hollencrest Capital Management Buys Shares of 2,035 Pinterest, Inc. (NYSE:PINS)

Hollencrest Capital Management purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,035 shares of the company’s stock, valued at approximately $90,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Pinterest by 1.8% during the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock valued at $1,988,110,000 after purchasing an additional 994,848 shares during the last quarter. Baillie Gifford & Co. grew its stake in Pinterest by 9.5% in the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock valued at $445,818,000 after buying an additional 880,398 shares during the last quarter. Capital World Investors raised its holdings in Pinterest by 0.7% in the 4th quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock worth $329,179,000 after acquiring an additional 64,270 shares during the period. Clearbridge Investments LLC lifted its position in Pinterest by 2.2% during the 1st quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock worth $283,592,000 after acquiring an additional 176,540 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Pinterest by 1,188.9% during the fourth quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after acquiring an additional 5,524,796 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

PINS has been the subject of several recent analyst reports. Wedbush decreased their target price on Pinterest from $46.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Rosenblatt Securities reissued a “buy” rating and issued a $48.00 price objective on shares of Pinterest in a research report on Wednesday, July 31st. Robert W. Baird lowered their price objective on shares of Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus cut their target price on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.78.

Insiders Place Their Bets

In other 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.11% of the company’s stock.

Pinterest Price Performance

PINS stock opened at $30.36 on Friday. The stock has a market capitalization of $20.83 billion, a price-to-earnings ratio of 144.58, a P/E/G ratio of 3.22 and a beta of 1.00. The business has a fifty day moving average price of $32.58 and a 200 day moving average price of $36.73. Pinterest, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS) last announced its 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. The company had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period last year, the company posted ($0.04) earnings per share. On average, equities analysts expect that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Pinterest Company 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.