Pinterest, Inc. (NYSE:PINS) Shares Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd increased its holdings in Pinterest, Inc. (NYSE:PINS) by 398.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,655 shares of the company’s stock after purchasing an additional 6,918 shares during the quarter. Plato Investment Management Ltd’s holdings in Pinterest were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in shares of Pinterest in the fourth quarter worth $27,000. Rakuten Securities Inc. bought a new position in shares of Pinterest in the fourth quarter worth about $30,000. Quent Capital LLC increased its stake 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 acquired a new stake in Pinterest during the fourth quarter valued at approximately $43,000. Finally, Blue Trust Inc. boosted its holdings in shares of Pinterest by 87.7% in the 4th quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock worth $44,000 after acquiring an additional 557 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total transaction of $481,590.34. Following the completion of the sale, the insider now owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Wanjiku Juanita Walcott sold 11,627 shares of the firm’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 transaction, the insider now directly owns 307,256 shares of the company’s stock, valued at $12,726,543.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the transaction, the chief financial officer now directly owns 362,822 shares in the company, valued at approximately $16,102,040.36. The disclosure for this sale can be found here. Insiders have sold 50,250 shares of company stock valued at $2,191,304 in the last ninety days. 7.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Robert W. Baird dropped their target price on shares of Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday. Evercore ISI lowered their price target on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday. Roth Mkm cut their target price on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday. Raymond James lowered their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut their price target on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $42.07.

Pinterest Trading Down 6.0 %

Shares of PINS stock traded down $1.89 during trading hours on Friday, reaching $29.35. 22,212,482 shares of the stock were exchanged, compared to its average volume of 9,684,521. The firm has a market capitalization of $20.05 billion, a price-to-earnings ratio of 148.77, a price-to-earnings-growth ratio of 3.12 and a beta of 0.97. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19. The company’s 50-day moving average price is $41.72 and its 200-day moving average price is $38.44.

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, topping analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 7.04%. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) earnings per share. On average, sell-side analysts expect that Pinterest, Inc. will post 0.44 EPS for the current year.

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.