Angeles Wealth Management LLC Buys Shares of 5,950 Pinterest, Inc. $PINS

Angeles Wealth Management LLC bought a new stake in Pinterest, Inc. (NYSE:PINS) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,950 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds also recently added to or reduced their stakes in PINS. Bartlett & CO. Wealth Management LLC bought a new stake in Pinterest in the first quarter valued at $25,000. Garde Capital Inc. bought a new stake in Pinterest in the first quarter valued at $26,000. West Branch Capital LLC bought a new stake in Pinterest in the second quarter valued at $36,000. Golden State Wealth Management LLC lifted its stake 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 buying an additional 1,058 shares during the last quarter. Finally, Mather Group LLC. raised its stake in shares of Pinterest by 133.5% during the first quarter. Mather Group LLC. now owns 1,310 shares of the company’s stock valued at $41,000 after purchasing an additional 749 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Monness Crespi & Hardt lifted their price objective on shares of Pinterest from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, August 8th. KeyCorp lifted their price objective on shares of Pinterest from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Oppenheimer restated an “outperform” rating on shares of Pinterest in a research note on Friday, August 8th. Morgan Stanley upgraded shares of Pinterest from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $37.00 to $45.00 in a research note on Monday, July 21st. Finally, TD Cowen lifted their price objective on shares of Pinterest from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.67.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Matthew Madrigal sold 20,000 shares of Pinterest stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $38.58, for a total value of $771,600.00. Following the completion of the transaction, the chief technology officer directly owned 428,823 shares in the company, valued at $16,543,991.34. This represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 762,319 shares of company stock valued at $27,523,976 in the last three months. 7.06% of the stock is currently owned by insiders.

Pinterest Stock Down 0.6%

NYSE:PINS opened at $32.41 on Friday. The business’s 50-day moving average price is $34.70 and its 200 day moving average price is $33.15. The firm has a market cap of $22.04 billion, a P/E ratio of 11.62, a PEG ratio of 1.36 and a beta of 0.81. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $40.90.

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

Pinterest 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.