Alpha DNA Investment Management LLC Purchases Shares of 21,096 Pinterest, Inc. (NYSE:PINS)

Alpha DNA Investment Management LLC acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,096 shares of the company’s stock, valued at approximately $930,000.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Pinterest by 1,188.9% during the fourth quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after purchasing an additional 5,524,796 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Pinterest by 128.2% during the 1st quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock worth $193,473,000 after buying an additional 3,134,776 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Pinterest in the 2nd quarter valued at $98,655,000. Contour Asset Management LLC raised its position in shares of Pinterest by 79.5% during the fourth quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock worth $169,242,000 after acquiring an additional 2,023,500 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Pinterest by 45.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock valued at $198,846,000 after acquiring an additional 1,798,494 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Trading Up 3.9 %

Shares of PINS stock opened at $31.66 on Wednesday. The firm’s fifty day moving average price is $32.18 and its two-hundred day moving average price is $36.68. Pinterest, Inc. has a 1 year low of $23.59 and a 1 year high of $45.19. The firm has a market capitalization of $21.73 billion, a P/E ratio of 150.77, a PEG ratio of 3.40 and a beta of 1.00.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The business had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. During the same quarter in the previous year, the business earned ($0.04) earnings per share. Pinterest’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, equities research analysts forecast that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. KeyCorp lowered their price objective on Pinterest from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Robert W. Baird lowered their price target on shares of Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Evercore ISI cut their price objective on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. The Goldman Sachs Group raised their price objective on shares of Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.87.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.11% of the company’s stock.

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.