Envestnet Asset Management Inc. Purchases 48,276 Shares of Pinterest, Inc. (NYSE:PINS)

Envestnet Asset Management Inc. raised its position in shares of Pinterest, Inc. (NYSE:PINS) by 9.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 549,409 shares of the company’s stock after acquiring an additional 48,276 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of Pinterest worth $24,212,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Leibman Financial Services Inc. boosted its position in Pinterest by 0.9% during the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock valued at $1,383,000 after acquiring an additional 266 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Pinterest by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock worth $1,323,000 after purchasing an additional 319 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its position in shares of Pinterest by 1.6% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock worth $1,022,000 after purchasing an additional 373 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Pinterest by 40.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after purchasing an additional 378 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Stock Performance

Shares of Pinterest stock opened at $30.38 on Monday. Pinterest, Inc. has a one year low of $23.59 and a one year high of $45.19. The stock’s fifty day moving average is $32.58 and its 200 day moving average is $36.74. The stock has a market cap of $20.75 billion, a P/E ratio of 144.67, a P/E/G ratio of 3.22 and a beta of 1.00.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping 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 company had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. During the same period last year, the firm earned ($0.04) EPS. Pinterest’s revenue for the quarter was up 20.6% compared to the same quarter last year. Analysts predict that Pinterest, Inc. will post 0.39 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target on Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Morgan Stanley boosted their price target on Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Robert W. Baird dropped their price target on Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Pinterest in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a research report on Thursday, September 12th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.78.

Insider Buying and Selling at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated 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 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 SEC, which is available through this hyperlink. Insiders own 7.11% of the company’s stock.

About Pinterest

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.