Envestnet Portfolio Solutions Inc. Purchases 891 Shares of Pinterest, Inc. (NYSE:PINS)

Envestnet Portfolio Solutions Inc. increased its position in Pinterest, Inc. (NYSE:PINS) by 4.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 21,315 shares of the company’s stock after buying an additional 891 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Pinterest were worth $939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC bought a new position in Pinterest in the 4th quarter worth $27,000. Hexagon Capital Partners LLC grew its position in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares during the last quarter. Quent Capital LLC grew its position in Pinterest by 71.2% in the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after purchasing an additional 460 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Pinterest in the 4th quarter worth $43,000. Finally, Quadrant Capital Group LLC grew its position in Pinterest by 40.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after purchasing an additional 378 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

PINS has been the topic of several research analyst reports. Morgan Stanley raised their price target on shares of Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Evercore ISI decreased their price target on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. KeyCorp decreased their target price on shares of Pinterest from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. The Goldman Sachs Group lifted their target price on shares of Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $48.00 target price on shares of Pinterest in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.71.

Pinterest Trading Up 1.1 %

Shares of NYSE PINS opened at $31.01 on Monday. Pinterest, Inc. has a 1-year low of $23.59 and a 1-year high of $45.19. The company has a market cap of $21.28 billion, a PE ratio of 147.67, a P/E/G ratio of 3.26 and a beta of 0.97. The company has a 50-day moving average of $39.00 and a two-hundred day moving average of $37.84.

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

Insider Buying and Selling

In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the business’s 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 directly owns 307,256 shares of the company’s stock, valued at $12,726,543.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the business’s 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 directly owns 307,256 shares of the company’s stock, valued at $12,726,543.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $16,102,040.36. The disclosure for this sale can be found here. Insiders sold a total of 48,316 shares of company stock valued at $2,109,592 over the last ninety days. Insiders own 7.11% of the company’s stock.

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.