Abacus FCF Advisors LLC Boosts Holdings in Pinterest, Inc. (NYSE:PINS)

Abacus FCF Advisors LLC increased its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 98.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,064 shares of the company's stock after buying an additional 37,748 shares during the period. Abacus FCF Advisors LLC's holdings in Pinterest were worth $2,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PINS. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Pinterest by 2.8% in the 4th 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 during the last quarter. Ethos Financial Group LLC lifted its holdings in Pinterest by 3.1% in the 4th quarter. Ethos Financial Group LLC now owns 11,803 shares of the company's stock valued at $342,000 after purchasing an additional 350 shares in the last quarter. Amalgamated Bank boosted its stake in Pinterest by 0.9% during the 4th quarter. Amalgamated Bank now owns 39,792 shares of the company's stock worth $1,154,000 after purchasing an additional 372 shares during the last quarter. GAMMA Investing LLC boosted its stake in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock worth $31,000 after purchasing an additional 415 shares during the last quarter. Finally, Steph & Co. boosted its holdings in shares of Pinterest by 6.4% during the 4th quarter. Steph & Co. now owns 7,048 shares of the company's stock worth $204,000 after purchasing an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts recently commented on PINS shares. Sanford C. Bernstein upgraded Pinterest from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $34.00 to $47.00 in a research report on Friday, February 7th. Benchmark upgraded Pinterest from a "hold" rating to a "buy" rating and set a $55.00 price target on the stock in a report on Friday, February 7th. Morgan Stanley upped their price objective on shares of Pinterest from $35.00 to $36.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. Raymond James cut shares of Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. Finally, KeyCorp reduced their price target on shares of Pinterest from $41.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.23.

Insider Transactions at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total value of $3,180,906.28. Following the sale, the director now directly owns 6,274 shares in the company, valued at $195,497.84. This trade represents a 94.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now directly owns 144,129 shares of the company's stock, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 453,836 shares of company stock valued at $14,832,336. Insiders own 7.11% of the company's stock.

Pinterest Stock Performance

PINS stock traded up $0.12 during mid-day trading on Friday, reaching $26.35. The company had a trading volume of 9,048,658 shares, compared to its average volume of 10,439,275. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. The firm has a fifty day simple moving average of $33.42 and a 200 day simple moving average of $32.16.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share 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%. As a group, analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

About Pinterest

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.