Forum Financial Management LP Buys 5,090 Shares of Pinterest, Inc. $PINS

Forum Financial Management LP boosted its stake in Pinterest, Inc. (NYSE:PINS) by 42.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,210 shares of the company’s stock after acquiring an additional 5,090 shares during the period. Forum Financial Management LP’s holdings in Pinterest were worth $617,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC bought a new stake in Pinterest in the first quarter valued at $25,000. West Branch Capital LLC bought a new stake in Pinterest in the second quarter valued at $36,000. Golden State Wealth Management LLC boosted its holdings in Pinterest by 665.4% in the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company’s stock valued at $38,000 after acquiring an additional 1,058 shares in the last quarter. Mather Group LLC. boosted its holdings in Pinterest by 133.5% in the first quarter. Mather Group LLC. now owns 1,310 shares of the company’s stock valued at $41,000 after acquiring an additional 749 shares in the last quarter. Finally, LRI Investments LLC boosted its holdings in Pinterest by 97.7% in the first quarter. LRI Investments LLC now owns 1,374 shares of the company’s stock valued at $43,000 after acquiring an additional 679 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PINS shares. Mizuho started coverage on shares of Pinterest in a report on Monday, September 29th. They set an “outperform” rating and a $50.00 target price on the stock. Bank of America boosted their target price on shares of Pinterest from $41.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 8th. Wells Fargo & Company set a $42.00 target price on shares of Pinterest and gave the company an “overweight” rating in a report on Tuesday, July 1st. Stifel Nicolaus boosted their target price on shares of Pinterest from $46.00 to $47.00 and gave the company a “buy” rating in a report on Friday, August 8th. Finally, Wall Street Zen cut shares of Pinterest from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.67.

Insider Activity

In other Pinterest news, CAO Andrea Acosta sold 3,759 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $34.96, for a total value of $131,414.64. Following the completion of the transaction, the chief accounting officer owned 157,402 shares of the company’s stock, valued at approximately $5,502,773.92. The trade was a 2.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $35.00, for a total value of $40,250.00. Following the completion of the transaction, the director directly owned 30,600 shares of the company’s stock, valued at approximately $1,071,000. This trade represents a 3.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 640,236 shares of company stock worth $22,878,326. 7.06% of the stock is currently owned by company insiders.

Pinterest Price Performance

Shares of Pinterest stock opened at $33.97 on Friday. The stock has a market cap of $23.10 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.40 and a beta of 0.81. The firm’s 50-day moving average is $34.50 and its 200 day moving average is $33.36. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. The company had revenue of $665.93 million for the quarter. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. On average, equities analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.