Axxcess Wealth Management LLC Purchases Shares of 6,427 Pinterest, Inc. (NYSE:PINS)

Axxcess Wealth Management LLC purchased a new stake in shares of Pinterest, Inc. (NYSE:PINS) during the first quarter, HoldingsChannel reports. The fund purchased 6,427 shares of the company’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC bought a new stake in Pinterest during the fourth quarter valued at about $27,000. Rakuten Securities Inc. bought a new stake in Pinterest during the fourth quarter valued at about $30,000. Quent Capital LLC raised its holdings in Pinterest by 71.2% during the first quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after acquiring an additional 460 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Pinterest in the fourth quarter worth about $43,000. Finally, Blue Trust Inc. increased its holdings in shares of Pinterest by 87.7% in the fourth quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock worth $44,000 after purchasing an additional 557 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Price Performance

Shares of PINS stock opened at $37.55 on Friday. The firm has a market capitalization of $25.65 billion, a price-to-earnings ratio of 178.82, a price-to-earnings-growth ratio of 3.66 and a beta of 0.97. The business has a fifty day moving average of $42.30 and a 200 day moving average of $38.53. Pinterest, Inc. has a 1 year low of $23.59 and a 1 year high of $45.19.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. The business had revenue of $739.98 million during the quarter, compared to analyst estimates of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. As a group, equities research analysts expect that Pinterest, Inc. will post 0.44 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,627 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the sale, the insider now directly owns 307,256 shares in the company, valued at approximately $12,726,543.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 in the company, valued at approximately $16,102,040.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of Pinterest stock in a transaction dated 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 sale, the insider now owns 307,256 shares in the company, valued at $12,726,543.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,250 shares of company stock worth $2,191,304. Insiders own 7.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Roth Mkm boosted their price objective on Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Rosenblatt Securities reissued a “buy” rating and set a $48.00 price objective (up from $45.00) on shares of Pinterest in a research note on Wednesday, May 1st. Royal Bank of Canada boosted their price objective on Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Morgan Stanley boosted their target price on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Wolfe Research assumed coverage on Pinterest in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Nine analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.60.

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.