Forum Financial Management LP Boosts Holdings in Pinterest, Inc. (NYSE:PINS)

Forum Financial Management LP grew its holdings in Pinterest, Inc. (NYSE:PINS) by 69.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,854 shares of the company’s stock after purchasing an additional 6,074 shares during the quarter. Forum Financial Management LP’s holdings in Pinterest were worth $431,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Whipplewood Advisors LLC acquired a new position in shares of Pinterest in the fourth quarter worth $28,000. GAMMA Investing LLC grew its holdings in shares of Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after buying an additional 415 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its stake in shares of Pinterest by 401.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after buying an additional 1,204 shares during the period. V Square Quantitative Management LLC grew its stake in Pinterest by 51.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after acquiring an additional 590 shares during the period. Finally, Huntington National Bank raised its holdings in Pinterest by 484.1% in the 4th quarter. Huntington National Bank now owns 2,027 shares of the company’s stock valued at $59,000 after acquiring an additional 1,680 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jeremy S. Levine sold 50,535 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $33.98, for a total value of $1,717,179.30. Following the completion of the transaction, the director now owns 1,156,693 shares of the company’s stock, valued at approximately $39,304,428.14. This represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the sale, the director now owns 6,274 shares in the company, valued at approximately $195,497.84. This represents a 94.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 452,686 shares of company stock valued at $14,797,342 in the last quarter. Company insiders own 7.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PINS shares. Rosenblatt Securities increased their target price on Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $34.00 to $47.00 in a research report on Friday, February 7th. Wedbush reissued an “outperform” rating on shares of Pinterest in a research note on Tuesday, April 15th. Royal Bank of Canada lifted their target price on Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group reduced their price objective on Pinterest from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Eight investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and an average price target of $41.55.

Pinterest Stock Down 1.1 %

Shares of PINS stock opened at $25.17 on Monday. The business has a 50 day moving average of $32.25 and a two-hundred day moving average of $31.91. The company has a market cap of $17.07 billion, a P/E ratio of 9.36, a PEG ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. 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.