Cannon Advisors Inc. Buys New Stake in Pinterest, Inc. (NYSE:PINS)

Cannon Advisors Inc. purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,427 shares of the company’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in Pinterest during the 4th quarter worth about $28,000. GAMMA Investing LLC lifted its position 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 purchasing an additional 415 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after purchasing an additional 1,487 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of Pinterest by 51.5% in the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after purchasing an additional 590 shares in the last quarter. Finally, Manchester Capital Management LLC increased its stake in Pinterest by 17,692.3% during the 4th quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock worth $67,000 after buying an additional 2,300 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Price Performance

NYSE:PINS opened at $31.01 on Tuesday. The business’s 50-day moving average is $34.67 and its two-hundred day moving average is $32.42. The firm has a market capitalization of $21.03 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19.

Pinterest (NYSE:PINS) last announced its 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 8.10%. Equities analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total transaction of $45,068.50. Following the sale, the director now owns 29,086 shares of the company’s stock, valued at $1,139,880.34. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Wanjiku Juanita Walcott sold 12,253 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $32.24, for a total transaction of $395,036.72. Following the completion of the transaction, the insider now directly owns 228,510 shares of the company’s stock, valued at approximately $7,367,162.40. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 351,753 shares of company stock valued at $11,640,201. Corporate insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

PINS has been the subject of several recent research reports. Rosenblatt Securities raised their price target on shares of Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Friday, February 7th. Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, January 10th. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $34.00 to $47.00 in a research note on Friday, February 7th. Finally, Wedbush upped their target price on shares of Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.17.

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.