Envestnet Portfolio Solutions Inc. Acquires 6,682 Shares of Pinterest, Inc. $PINS

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 56.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 18,507 shares of the company’s stock after acquiring an additional 6,682 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Pinterest were worth $664,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in PINS. Vanguard Group Inc. grew its stake in shares of Pinterest by 2.2% during the first quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company’s stock worth $1,798,270,000 after purchasing an additional 1,263,863 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Pinterest by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock worth $988,662,000 after buying an additional 6,460,143 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Pinterest by 13.7% during the 1st quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company’s stock worth $480,452,000 after buying an additional 1,862,654 shares during the period. Amundi grew its position in shares of Pinterest by 618.9% during the 1st quarter. Amundi now owns 14,254,741 shares of the company’s stock worth $441,897,000 after buying an additional 12,271,958 shares during the period. Finally, Swedbank AB increased its stake in shares of Pinterest by 27.3% in the 2nd 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 and hedge funds own 88.81% of the company’s stock.

Pinterest Trading Up 1.6%

Shares of NYSE PINS opened at $32.90 on Tuesday. The company has a fifty day moving average price of $34.67 and a 200 day moving average price of $33.24. The firm has a market cap of $22.37 billion, a PE ratio of 11.79, a PEG ratio of 1.36 and a beta of 0.81. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90.

Pinterest (NYSE:PINS) last issued its quarterly earnings results 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%. Equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Ratings Changes

PINS has been the topic of several recent analyst reports. Citigroup reissued a “buy” rating and set a $50.00 price objective (up previously from $44.00) on shares of Pinterest in a research note on Friday, August 8th. Stifel Nicolaus increased their target price on shares of Pinterest from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Benchmark boosted their price target on shares of Pinterest from $45.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, July 24th. UBS Group upped their price objective on shares of Pinterest from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, Monness Crespi & Hardt lifted their target price on Pinterest from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Pinterest has an average rating of “Moderate Buy” and a consensus price target of $42.67.

Insider Buying and Selling at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total transaction of $3,558,613.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $35.00, for a total transaction of $40,250.00. Following the completion of the sale, the director owned 30,600 shares in the company, valued at $1,071,000. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 742,319 shares of company stock valued at $26,752,376 over the last quarter. Insiders own 7.11% of the company’s stock.

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.