Chicago Partners Investment Group LLC Buys New Position in Pinterest, Inc. $PINS

Chicago Partners Investment Group LLC bought a new stake in shares of Pinterest, Inc. (NYSE:PINS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,146 shares of the company’s stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Koshinski Asset Management Inc. purchased a new position in Pinterest during the 2nd quarter valued at about $226,000. Hartline Investment Corp purchased a new position in Pinterest during the 2nd quarter valued at about $262,000. Angeles Wealth Management LLC purchased a new position in Pinterest during the 2nd quarter valued at about $213,000. Bridges Investment Management Inc. purchased a new position in Pinterest during the 2nd quarter valued at about $207,000. Finally, Axxcess Wealth Management LLC purchased a new position in Pinterest during the 2nd quarter valued at about $245,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. UBS Group increased their price target on Pinterest from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Bank of America increased their price target on Pinterest from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Cowen reaffirmed a “buy” rating on shares of Pinterest in a research report on Friday, August 8th. TD Cowen increased their price target on Pinterest from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, July 15th. Finally, Wedbush increased their price target on Pinterest from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.67.

Pinterest Stock Performance

Shares of NYSE PINS opened at $33.97 on Friday. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The firm has a market capitalization of $23.10 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.40 and a beta of 0.81. The stock’s 50-day simple moving average is $34.50 and its 200-day simple moving average is $33.36.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a return on equity of 8.44% and a net margin of 49.31%.The business had revenue of $665.93 million for the quarter. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total transaction of $3,558,613.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the sale, the chief financial officer directly owned 312,422 shares in the company, valued at $10,887,906.70. This trade represents a 6.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 640,236 shares of company stock worth $22,878,326 over the last 90 days. Insiders own 7.06% of the company’s stock.

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.