Los Angeles Capital Management LLC Increases Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Los Angeles Capital Management LLC increased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 2,647.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 384,982 shares of the company’s stock after acquiring an additional 370,968 shares during the period. Los Angeles Capital Management LLC owned approximately 0.06% of Pinterest worth $16,966,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wellington Shields Capital Management LLC acquired a new position in shares of Pinterest during the second quarter worth $26,000. Hexagon Capital Partners LLC lifted its holdings 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 buying an additional 459 shares in the last quarter. GAMMA Investing LLC boosted its position in Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Pinterest during the second quarter valued at about $35,000. Finally, Quent Capital LLC increased its position in shares of Pinterest by 71.2% during the first quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after acquiring an additional 460 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

PINS has been the subject of a number of analyst reports. Raymond James reduced their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. KeyCorp dropped their price target on shares of Pinterest from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Stifel Nicolaus reduced their price objective on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Barclays dropped their target price on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company reduced their price target on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.65.

Insider Activity

In related news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $43.90, for a total value of $168,795.50. Following the completion of the sale, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total transaction of $168,795.50. Following the transaction, the chief accounting officer now owns 189,470 shares in the company, valued at $8,317,733. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’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 value of $1,343,826.40. Following the completion of the sale, the chief financial officer now owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,689 shares of company stock valued at $1,628,002. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Down 5.1 %

Pinterest stock opened at $29.25 on Friday. The firm has a 50-day moving average price of $35.26 and a two-hundred day moving average price of $37.17. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19. The firm has a market capitalization of $20.07 billion, a price-to-earnings ratio of 139.29, a PEG ratio of 3.57 and a beta of 1.00.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) EPS. Research analysts expect that Pinterest, Inc. will post 0.39 earnings per share for the current year.

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.