Pinterest, Inc. $PINS Shares Purchased by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Pinterest, Inc. (NYSE:PINS) by 101.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 108,064 shares of the company’s stock after buying an additional 54,365 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Pinterest were worth $3,875,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PINS. Revolve Wealth Partners LLC acquired a new stake in shares of Pinterest in the fourth quarter worth approximately $252,000. GAMMA Investing LLC raised its stake in Pinterest by 107.3% in the 1st quarter. GAMMA Investing LLC now owns 2,216 shares of the company’s stock valued at $69,000 after purchasing an additional 1,147 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Pinterest by 5.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 20,242 shares of the company’s stock valued at $628,000 after purchasing an additional 1,054 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in Pinterest by 11.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,240 shares of the company’s stock worth $317,000 after purchasing an additional 1,051 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in shares of Pinterest by 665.4% during the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company’s stock worth $38,000 after buying an additional 1,058 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Price Performance

NYSE:PINS opened at $35.28 on Tuesday. The company’s 50-day moving average is $34.49 and its two-hundred day moving average is $33.51. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The firm has a market capitalization of $23.99 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.48 and a beta of 0.81.

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 business had revenue of $665.93 million during the quarter. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. As a group, equities analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PINS. Stifel Nicolaus raised their price target on shares of Pinterest from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Bank of America increased their price objective on shares of Pinterest from $41.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 8th. Sanford C. Bernstein raised their target price on shares of Pinterest from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Mizuho started coverage on Pinterest in a report on Monday, September 29th. They set an “outperform” rating and a $50.00 target price on the stock. Finally, Benchmark upped their price target on Pinterest from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One equities research 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’s stock. Based on data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and an average target price of $42.67.

Insiders Place Their Bets

In other news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total transaction of $3,558,613.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Andrea Acosta sold 3,759 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $34.96, for a total transaction of $131,414.64. Following the completion of the sale, the chief accounting officer owned 157,402 shares in the company, valued at approximately $5,502,773.92. This trade represents a 2.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 640,236 shares of company stock worth $22,878,326 in the last three months. 7.11% of the stock is owned by insiders.

About Pinterest

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.