According to a report by Holdingschannel, UMB Bank NA MO acquired Pinterest, Inc. in the first quarter. (NYSE: PINS – Get Rating) increased its stake by 117.1%. The fund held 3,415 shares of the company after purchasing an additional 1,842 shares during the quarter. UMB Bank NA MO’s holdings in Pinterest were valued at $84,000 in its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also changed their holdings. Forethought Financial LLC increased its stake in Pinterest shares by 214.8% in the fourth quarter. Forethought Financial LLC now owns 724 shares of the company’s stock valued at $26,000 after purchasing an additional 494 shares during the period. KRS Capital Management LLC bought a new $26,000 position in Pinterest stock during the fourth quarter. Sandy Cove Advisors LLC bought a new $33,000 position in Pinterest stock during the fourth quarter. Lindbrook Capital LLC increased its stake in Pinterest shares by 135.0% in the first quarter. After purchasing an additional 840 shares during this period, Lindbrook Capital LLC now owns 1,462 shares of the enterprise value of 36,000 shares. Finally, IFP Advisors Inc. increased its stake in Pinterest shares by 84.0% in the fourth quarter. IFP Advisors Inc. now owns 1,038 shares worth $42,000 after purchasing an additional 474 shares during the period. 63.76% of the shares are currently owned by institutional investors and hedge funds.
In related news, SVP Naveen Gavini sold 5,491 shares of the stock in a transaction on Thursday June 23rd. The shares sold at an average price of $20.00 for a total value of $109,820.00. Following the closing of the transaction, the senior vice president now directly owns 506,409 shares of the company, valued at $10,128,180. The transaction was disclosed in a legal filing with the SEC available at this link. In addition, CFO Todd R. Morgenfeld sold 55,241 shares of the stock in a transaction effective Tuesday, June 28th. The stock sold at an average price of $20.12 for a total transaction of $1,111,448.92. Upon completion of the transaction, the Chief Financial Officer now directly owns 641,025 shares of the Company, valued at $12,897,423. The disclosure of this sale can be found here. Over the past three months, insiders sold 669,934 shares of the company’s shares, valued at $12,405,181. 7.58% of the shares are held by insiders.
Pins have been the subject of many research reports. Evercore ISI lowered its target price on Pinterest shares to $24.00 from $34.00 in a research note Thursday, putting a “inline” rating on the company. JPMorgan Chase & Co. lowered its price target on Pinterest shares from $32.00 to $26.00 in a research report on Wednesday, June 29 and gave the company a “neutral” rating. UBS Group lowered its target price on Pinterest shares to $19.00 from $35.00, giving the company a neutral rating in a research report issued on Thursday, June 16. TheStreet downgraded Pinterest shares from a “c” rating to a “d+” rating a research report on Tuesday, May 31. Finally, Wedbush lowered its price target on Pinterest shares from $39 to buy the stock. According to data from Marketbeat, the company currently has a consensus rating of “Hold” and an average target price of $31.33.
Pinterest stock opened at $20.24 on Friday. The company has a 50-day moving average of $20.16 and a 200-day moving average of $24.55. The company has a market cap of $13.43 billion, a P/E of 42.17, a P/E of 4.66, and a beta of 1.21. Pinterest, Inc. 1 year low of $16.14 and 1 year high of $77.92.
Pinterest (NYSE:PINS – GET RATINGS) last released its earnings results on Wednesday, April 27th. The company reported earnings per share ($0.01) for the quarter, ahead of analyst consensus estimate of $0.11 ($0.12). Pinterest had a net margin of 12.48% and a return on equity of 12.69%. The company’s revenue for the quarter was $574.89 million compared to analyst estimates of $568.27 million. In the same period last year, the company reported earnings per share ($0.02). Sell-side analysts estimate that Pinterest, Inc. would post 0.29 earnings per share for the year to date.
Pinterest profile (received rating)
Pinterest, Inc. serves as a visual search engine in the United States and internationally. The company’s engine empowers people to find inspiration for their lives, including recipes, style and home inspiration, DIY and more; and offers video, product, and idea Pins. It includes visual machine learning recommendations based on pinner tastes and interests.
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