IFP Advisors Inc Buys 2,425 Shares of Pinterest, Inc. $PINS

IFP Advisors Inc increased its stake in Pinterest, Inc. (NYSE:PINS) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,705 shares of the company’s stock after purchasing an additional 2,425 shares during the period. IFP Advisors Inc’s holdings in Pinterest were worth $1,498,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Pinterest by 2.2% in the first quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company’s stock valued at $1,798,270,000 after acquiring an additional 1,263,863 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Pinterest by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock valued at $988,662,000 after acquiring an additional 6,460,143 shares during the last quarter. Ameriprise Financial Inc. grew its position in Pinterest by 13.7% in the first quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company’s stock valued at $480,452,000 after acquiring an additional 1,862,654 shares during the last quarter. Amundi grew its position in Pinterest by 618.9% in the first quarter. Amundi now owns 14,254,741 shares of the company’s stock valued at $441,897,000 after acquiring an additional 12,271,958 shares during the last quarter. Finally, Swedbank AB grew its position in Pinterest by 27.3% in the second quarter. Swedbank AB now owns 7,430,885 shares of the company’s stock valued at $266,472,000 after acquiring an additional 1,591,400 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Trading Down 4.5%

Shares of PINS stock opened at $30.42 on Friday. The business’s 50-day moving average price is $35.26 and its 200-day moving average price is $33.11. The firm has a market capitalization of $20.69 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.27 and a beta of 0.81. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90.

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

Analyst Upgrades and Downgrades

PINS has been the topic of a number of recent analyst reports. Oppenheimer reiterated an “outperform” rating on shares of Pinterest in a research report on Friday, August 8th. Mizuho began coverage on Pinterest in a research note on Monday, September 29th. They set an “outperform” rating and a $50.00 price target on the stock. Guggenheim reissued a “buy” rating on shares of Pinterest in a research note on Tuesday, September 2nd. Cowen reissued a “buy” rating on shares of Pinterest in a research note on Friday, August 8th. Finally, TD Cowen lifted their price target on Pinterest from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.67.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the transaction, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at $10,887,906.70. The trade was a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Matthew Madrigal sold 20,000 shares of Pinterest stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $38.58, for a total value of $771,600.00. Following the completion of the transaction, the chief technology officer directly owned 428,823 shares in the company, valued at approximately $16,543,991.34. This represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 865,552 shares of company stock valued at $31,242,397 over the last ninety days. 7.06% of the stock is owned by company 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.