236,792 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by Prospect Financial Group LLC

Prospect Financial Group LLC bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the fourth quarter, Holdings Channel reports. The fund bought 236,792 shares of the company’s stock, valued at approximately $6,867,000. Pinterest comprises about 8.4% of Prospect Financial Group LLC’s investment portfolio, making the stock its 2nd biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in PINS. Whipplewood Advisors LLC bought a new stake in shares of Pinterest in the fourth quarter worth $28,000. GAMMA Investing LLC lifted its holdings in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after buying an additional 415 shares during the period. Crewe Advisors LLC grew its position in shares of Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after buying an additional 550 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after buying an additional 1,487 shares during the period. Finally, V Square Quantitative Management LLC raised its position in shares of Pinterest by 51.5% during the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after acquiring an additional 590 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now owns 30,236 shares in the company, valued at $920,081.48. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the transaction, the chief accounting officer now owns 144,129 shares in the company, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 237,417 shares of company stock valued at $7,803,946 in the last ninety days. 7.11% of the stock is currently owned by insiders.

Pinterest Stock Performance

Pinterest stock opened at $34.05 on Tuesday. The stock has a market cap of $23.09 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm’s 50-day simple moving average is $34.46 and its 200 day simple moving average is $32.31.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Raymond James upped their target price on Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Royal Bank of Canada increased their price objective on shares of Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Sanford C. Bernstein upgraded shares of Pinterest from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $34.00 to $47.00 in a report on Friday, February 7th. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Friday, February 7th. Finally, Guggenheim raised Pinterest from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $39.00 to $40.00 in a research note on Monday. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.33.

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.