Simplicity Wealth LLC Purchases Shares of 10,781 Pinterest, Inc. (NYSE:PINS)

Simplicity Wealth LLC acquired a new stake in Pinterest, Inc. (NYSE:PINS) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,781 shares of the company’s stock, valued at approximately $374,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in shares of Pinterest during the 4th quarter worth $27,000. Rakuten Securities Inc. purchased a new position in Pinterest in the fourth quarter valued at approximately $30,000. Washington Trust Advisors Inc. lifted its position 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 purchased a new stake in Pinterest during the third quarter worth approximately $41,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Pinterest in the 4th quarter valued at $43,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total value of $81,711.50. Following the sale, the director now directly owns 29,712 shares in the company, valued at approximately $1,255,332. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total value of $81,711.50. Following the completion of the sale, the director now directly owns 29,712 shares of the company’s stock, valued at approximately $1,255,332. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $35.08, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 166,405 shares of company stock valued at $5,855,142 in the last ninety days. Company insiders own 7.11% of the company’s stock.

Pinterest Price Performance

Shares of NYSE PINS traded down $0.12 during mid-day trading on Wednesday, hitting $41.39. The company had a trading volume of 6,264,790 shares, compared to its average volume of 10,109,856. Pinterest, Inc. has a 12 month low of $23.00 and a 12 month high of $43.12. The stock has a market cap of $28.27 billion, a price-to-earnings ratio of 197.25, a PEG ratio of 4.25 and a beta of 0.99. The firm’s 50 day simple moving average is $36.37 and its two-hundred day simple moving average is $35.88.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. The company had revenue of $739.98 million for the quarter, compared to analysts’ expectations of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. Equities analysts forecast that Pinterest, Inc. will post 0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PINS has been the subject of several recent research reports. Sanford C. Bernstein increased their price target on Pinterest from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. Roth Mkm raised their target price on Pinterest from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Rosenblatt Securities restated a “buy” rating and issued a $48.00 price target (up previously from $45.00) on shares of Pinterest in a report on Wednesday, May 1st. Citigroup boosted their target price on shares of Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Evercore ISI raised their price target on shares of Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, Pinterest has an average rating of “Moderate Buy” and a consensus target price of $41.26.

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.