Pinterest, Inc. (NYSE:PINS) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. lifted its stake in Pinterest, Inc. (NYSE:PINS) by 51.0% in the fourth quarter, HoldingsChannel reports. The fund owned 5,732 shares of the company’s stock after purchasing an additional 1,937 shares during the quarter. First Horizon Advisors Inc.’s holdings in Pinterest were worth $212,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PINS. GAMMA Investing LLC acquired a new stake in Pinterest in the fourth quarter worth approximately $27,000. Rakuten Securities Inc. bought a new position in Pinterest during the fourth quarter valued at about $30,000. Washington Trust Advisors Inc. boosted its stake in Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after buying an additional 326 shares in the last quarter. Clear Street Markets LLC acquired a new position in Pinterest during the third quarter worth about $41,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Pinterest in the fourth quarter worth about $43,000. 88.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PINS shares. Evercore ISI lifted their price objective on shares of Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Wedbush increased their price objective on Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Argus raised Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Thursday, January 18th. JPMorgan Chase & Co. boosted their target price on Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Citigroup raised their target price on shares of Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and a consensus price target of $40.82.

Pinterest Price Performance

Shares of Pinterest stock opened at $40.41 on Monday. The stock has a 50-day simple moving average of $34.79 and a 200-day simple moving average of $34.58. Pinterest, Inc. has a 52-week low of $20.60 and a 52-week high of $41.60. The firm has a market cap of $27.61 billion, a price-to-earnings ratio of 192.44, a P/E/G ratio of 4.02 and a beta of 0.99.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The firm had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. As a group, equities research analysts predict that Pinterest, Inc. will post 0.43 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total transaction of $65,949.40. Following the completion of the sale, the director now owns 33,580 shares in the company, valued at approximately $1,145,078. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction on Monday, April 1st. The shares were sold at an average price of $35.08, for a total value of $701,600.00. Following the transaction, the director now owns 34,215 shares in the company, valued at approximately $1,200,262.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total transaction of $65,949.40. Following the sale, the director now owns 33,580 shares of the company’s stock, valued at $1,145,078. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,471 shares of company stock worth $5,773,431. 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.