7,900 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by Avestar Capital LLC

Avestar Capital LLC purchased a new stake in shares of Pinterest, Inc. (NYSE:PINS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,900 shares of the company’s stock, valued at approximately $229,000.

Other hedge funds have also modified their holdings of the company. Sequoia Financial Advisors LLC raised its stake in Pinterest by 5.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after purchasing an additional 313 shares during the period. Hantz Financial Services Inc. raised its position in shares of Pinterest by 3.7% during the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after buying an additional 339 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Pinterest by 2.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock worth $366,000 after buying an additional 342 shares in the last quarter. Commerce Bank boosted its position in shares of Pinterest by 3.3% during the third quarter. Commerce Bank now owns 11,868 shares of the company’s stock worth $384,000 after acquiring an additional 378 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after acquiring an additional 415 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the transaction, the director now directly owns 32,536 shares in the company, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the sale, the insider now owns 246,921 shares in the company, valued at $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Stock Performance

Shares of NYSE PINS opened at $38.96 on Friday. The stock has a 50 day moving average price of $32.19 and a 200 day moving average price of $31.55. The firm has a market capitalization of $26.33 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.72 and a beta of 1.06. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 9.20%. Analysts forecast that Pinterest, Inc. will post 0.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Wedbush raised their price target on Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Friday, January 10th. Barclays raised their target price on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Finally, UBS Group decreased their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.86.

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.