Proficio Capital Partners LLC Invests $1.93 Million in Pinterest, Inc. (NYSE:PINS)

Proficio Capital Partners LLC acquired a new stake in Pinterest, Inc. (NYSE:PINS) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 66,410 shares of the company’s stock, valued at approximately $1,926,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of Pinterest by 45.6% during the third quarter. Victory Capital Management Inc. now owns 414,285 shares of the company’s stock worth $13,410,000 after buying an additional 129,676 shares during the period. CIBC Asset Management Inc grew its stake in shares of Pinterest by 5.5% during the 3rd quarter. CIBC Asset Management Inc now owns 21,257 shares of the company’s stock worth $688,000 after acquiring an additional 1,105 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Pinterest by 7.4% in the third quarter. Empowered Funds LLC now owns 9,165 shares of the company’s stock valued at $297,000 after purchasing an additional 635 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Pinterest by 31.6% in the third quarter. Thrivent Financial for Lutherans now owns 546,305 shares of the company’s stock worth $17,684,000 after purchasing an additional 131,176 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Pinterest by 1.0% during the third quarter. Swiss National Bank now owns 1,779,000 shares of the company’s stock worth $57,586,000 after purchasing an additional 16,800 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on PINS shares. KeyCorp lowered their price target on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday. Morgan Stanley upped their target price on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Friday, January 10th. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price objective (down previously from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Finally, Guggenheim raised their target price on shares of Pinterest from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and a consensus target price of $43.30.

Pinterest Stock Performance

NYSE:PINS opened at $31.62 on Thursday. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The firm’s 50-day simple moving average is $34.34 and its 200 day simple moving average is $32.27. The firm has a market cap of $21.45 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 1.95 and a beta of 1.02.

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

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 38,596 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $34.27, for a total transaction of $1,322,684.92. Following the completion of the transaction, the chief financial officer now owns 231,879 shares of the company’s stock, valued at approximately $7,946,493.33. The trade was a 14.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 144,129 shares in the company, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 105,729 shares of company stock valued at $3,617,950 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.