Boltwood Capital Management Purchases New Holdings in Pinterest, Inc. (NYSE:PINS)
Boltwood Capital Management purchased a new stake in Pinterest, Inc. (NYSE:PINS) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,034 shares of the company’s stock, valued at approximately $595,000.
Other hedge funds also recently modified their holdings of the company. Parallel Advisors LLC boosted its stake in shares of Pinterest by 163.7% in the fourth quarter. Parallel Advisors LLC now owns 3,829 shares of the company’s stock valued at $252,000 after buying an additional 2,377 shares during the period. Aurora Investment Managers LLC. lifted its stake in Pinterest by 22.0% during the fourth quarter. Aurora Investment Managers LLC. now owns 34,964 shares of the company’s stock worth $2,304,000 after purchasing an additional 6,309 shares during the last quarter. Falcon Point Capital LLC bought a new stake in Pinterest during the fourth quarter worth $224,000. Avitas Wealth Management LLC lifted its stake in Pinterest by 26.9% during the fourth quarter. Avitas Wealth Management LLC now owns 25,613 shares of the company’s stock worth $1,688,000 after purchasing an additional 5,424 shares during the last quarter. Finally, Toth Financial Advisory Corp bought a new stake in Pinterest during the fourth quarter worth $33,000. Institutional investors and hedge funds own 58.21% of the company’s stock.
PINS has been the subject of several recent analyst reports. Barclays upped their target price on Pinterest from $66.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday, February 5th. The Goldman Sachs Group upped their price target on shares of Pinterest from $86.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, February 5th. Loop Capital upped their price target on shares of Pinterest from $80.00 to $105.00 in a report on Tuesday, February 16th. Morgan Stanley lowered their price target on shares of Pinterest from $95.00 to $89.00 and set an “overweight” rating for the company in a report on Tuesday, March 30th. Finally, Susquehanna Bancshares upped their price target on shares of Pinterest from $67.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, February 5th. Eleven investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $76.86.
Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 4th. The company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.47. Pinterest had a negative return on equity of 14.42% and a negative net margin of 26.81%. The firm had revenue of $705.62 million during the quarter, compared to the consensus estimate of $645.75 million. On average, research analysts expect that Pinterest, Inc. will post -0.41 EPS for the current fiscal year.
In other news, SVP Naveen Gavini sold 26,259 shares of the stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $70.83, for a total transaction of $1,859,924.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Tseli Lily Yang sold 2,440 shares of the stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $82.50, for a total transaction of $201,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,002,667 shares of company stock worth $75,881,056 in the last three months.
Pinterest, Inc provides visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others. It shows them visual recommendations based on people personal taste and interests.
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