Los Angeles Capital Management LLC Buys 227,958 Shares of Pinterest, Inc. $PINS

Los Angeles Capital Management LLC boosted its stake in Pinterest, Inc. (NYSE:PINS) by 90.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 479,990 shares of the company’s stock after buying an additional 227,958 shares during the period. Los Angeles Capital Management LLC’s holdings in Pinterest were worth $17,212,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its position in shares of Pinterest by 282.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after acquiring an additional 506 shares in the last quarter. West Branch Capital LLC purchased a new stake in Pinterest in the second quarter worth $36,000. Wellington Shields Capital Management LLC purchased a new stake in Pinterest in the second quarter worth $40,000. LRI Investments LLC raised its holdings in Pinterest by 97.7% in the first quarter. LRI Investments LLC now owns 1,374 shares of the company’s stock worth $43,000 after purchasing an additional 679 shares in the last quarter. Finally, Whittier Trust Co. lifted its position in Pinterest by 798.4% during the first quarter. Whittier Trust Co. now owns 1,707 shares of the company’s stock valued at $53,000 after buying an additional 1,517 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Activity at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the completion of the sale, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at $10,887,906.70. The trade was a 6.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 640,236 shares of company stock worth $22,878,326. Company insiders own 7.06% of the company’s stock.

Pinterest Stock Performance

PINS opened at $27.06 on Friday. The stock has a market capitalization of $18.40 billion, a P/E ratio of 9.39, a P/E/G ratio of 1.42 and a beta of 0.96. The company’s 50-day simple moving average is $33.58 and its two-hundred day simple moving average is $33.85. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $40.90.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The firm had revenue of $665.93 million during the quarter. Research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PINS has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Pinterest from $44.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday. Morgan Stanley raised shares of Pinterest from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $37.00 to $45.00 in a research note on Monday, July 21st. Cantor Fitzgerald cut their price objective on shares of Pinterest from $40.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday. Bank of America lowered their target price on shares of Pinterest from $44.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Citigroup reissued a “buy” rating on shares of Pinterest in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.55.

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.