Choreo LLC Makes New $319,000 Investment in Pinterest, Inc. (NYSE:PINS)

Choreo LLC purchased a new position in Pinterest, Inc. (NYSE:PINS) during the 1st quarter, HoldingsChannel reports. The firm purchased 10,293 shares of the company’s stock, valued at approximately $319,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Revolve Wealth Partners LLC purchased a new position in Pinterest in the 4th quarter worth about $252,000. LPL Financial LLC increased its stake in Pinterest by 3.6% in the 4th quarter. LPL Financial LLC now owns 438,427 shares of the company’s stock worth $12,714,000 after purchasing an additional 15,164 shares in the last quarter. Blair William & Co. IL purchased a new position in Pinterest in the 4th quarter worth about $799,000. Orion Portfolio Solutions LLC increased its stake in Pinterest by 30.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 8,215 shares of the company’s stock worth $238,000 after purchasing an additional 1,909 shares in the last quarter. Finally, DnB Asset Management AS increased its stake in Pinterest by 1.8% in the 4th quarter. DnB Asset Management AS now owns 101,539 shares of the company’s stock worth $2,945,000 after purchasing an additional 1,806 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Pinterest Stock Down 0.7%

Shares of PINS stock opened at $38.27 on Wednesday. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90. The firm has a market cap of $25.95 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.93 and a beta of 0.94. The stock has a 50 day moving average of $34.90 and a 200-day moving average of $32.71.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The business had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. During the same quarter last year, the firm earned $0.17 earnings per share. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wolfe Research raised Pinterest from a “peer perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Thursday, May 15th. Wells Fargo & Company set a $42.00 target price on Pinterest and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Benchmark lifted their target price on Pinterest from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Guggenheim reaffirmed a “buy” rating on shares of Pinterest in a research note on Monday. Finally, TD Cowen lifted their target price on Pinterest from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, July 15th. Five investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.81.

Insider Activity at Pinterest

In related news, Director Benjamin Silbermann sold 408,332 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total value of $13,540,289.12. Following the completion of the transaction, the director directly owned 6,274 shares in the company, valued at approximately $208,045.84. This represents a 98.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 1,502,611 shares of company stock valued at $51,602,943 in the last three months. Corporate insiders own 7.11% of the company’s stock.

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.