Regal Investment Advisors LLC Purchases New Shares in Pinterest, Inc. (NYSE:PINS)

Regal Investment Advisors LLC acquired a new stake in shares of Pinterest, Inc. (NYSE:PINS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,943 shares of the company’s stock, valued at approximately $262,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Pinterest by 1,188.9% in the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after acquiring an additional 5,524,796 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Pinterest in the 2nd quarter valued at approximately $98,655,000. Contour Asset Management LLC lifted its stake in shares of Pinterest by 79.5% in the 4th quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock valued at $169,242,000 after purchasing an additional 2,023,500 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Pinterest by 45.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock worth $198,846,000 after purchasing an additional 1,798,494 shares during the period. Finally, Ninety One UK Ltd increased its position in shares of Pinterest by 44.6% during the 2nd quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock valued at $239,991,000 after purchasing an additional 1,679,348 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 7.11% of the company’s stock.

Pinterest Price Performance

Shares of NYSE PINS opened at $33.22 on Thursday. Pinterest, Inc. has a 1-year low of $23.59 and a 1-year high of $45.19. The business has a fifty day moving average price of $31.23 and a 200 day moving average price of $36.60. The stock has a market capitalization of $22.80 billion, a P/E ratio of 158.20, a price-to-earnings-growth ratio of 2.51 and a beta of 1.00.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The business had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. During the same period in the prior year, the firm posted ($0.04) earnings per share. The company’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, equities research analysts anticipate that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on PINS shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $41.00 price objective on shares of Pinterest in a research note on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pinterest in a research note on Monday, September 23rd. They set a “buy” rating and a $43.00 price target for the company. Roth Mkm reduced their price objective on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. UBS Group dropped their target price on Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Morgan Stanley raised their price target on Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

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.