Tidal Investments LLC Purchases 17,241 Shares of Pinterest, Inc. (NYSE:PINS)

Tidal Investments LLC grew its position in shares of Pinterest, Inc. (NYSE:PINS) by 38.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,374 shares of the company’s stock after purchasing an additional 17,241 shares during the quarter. Tidal Investments LLC’s holdings in Pinterest were worth $2,163,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PINS. Vanguard Group Inc. increased its stake in Pinterest by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock worth $1,988,110,000 after purchasing an additional 994,848 shares during the period. Franklin Resources Inc. boosted its position in Pinterest by 34.0% during the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after buying an additional 2,548,925 shares during the period. Baillie Gifford & Co. grew its holdings in Pinterest by 12.6% in the 4th quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock worth $344,685,000 after acquiring an additional 1,043,173 shares during the last quarter. Capital World Investors raised its stake in shares of Pinterest by 0.7% during the fourth quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after acquiring an additional 64,270 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Pinterest by 2.2% during the first quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock worth $283,592,000 after purchasing an additional 176,540 shares during the period. Institutional investors own 88.81% of the company’s stock.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the completion of the transaction, the insider now owns 307,256 shares in the company, valued at approximately $12,726,543.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total transaction of $168,795.50. Following the completion of the sale, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total value of $481,590.34. Following the completion of the transaction, the insider now directly owns 307,256 shares in the company, valued at approximately $12,726,543.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,250 shares of company stock worth $2,191,304. Company insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PINS. Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Wednesday. Wells Fargo & Company decreased their price objective on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday. Barclays cut their target price on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $48.00 price objective on shares of Pinterest in a research report on Wednesday. Finally, UBS Group decreased their target price on Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.07.

Pinterest Stock Performance

Shares of Pinterest stock traded down $2.18 on Friday, hitting $29.06. 6,376,690 shares of the company traded hands, compared to its average volume of 9,564,389. Pinterest, Inc. has a 52 week low of $23.59 and a 52 week high of $45.19. The business has a 50-day simple moving average of $41.72 and a 200 day simple moving average of $38.44. The stock has a market capitalization of $19.85 billion, a P/E ratio of 148.77, a price-to-earnings-growth ratio of 3.12 and a beta of 0.97.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 7.04%. The company had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. During the same period in the previous year, the firm posted ($0.04) EPS. Pinterest’s revenue for the quarter was up 20.6% compared to the same quarter last year. Research analysts expect that Pinterest, Inc. will post 0.44 earnings per share for the current 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.