Allstate Corp Takes Position in Pinterest, Inc. (NYSE:PINS)

Allstate Corp acquired a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,639 shares of the company's stock, valued at approximately $512,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PINS. Whipplewood Advisors LLC purchased a new position in Pinterest during the 4th quarter worth approximately $28,000. GAMMA Investing LLC grew 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 acquiring an additional 415 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Pinterest by 51.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock valued at $50,000 after acquiring an additional 590 shares during the period. Manchester Capital Management LLC raised its position in Pinterest by 17,692.3% in the 4th quarter. Manchester Capital Management LLC now owns 2,313 shares of the company's stock valued at $67,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Pinterest by 20.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,564 shares of the company's stock worth $75,000 after purchasing an additional 429 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.

Insider Buying and Selling

In other news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction that occurred on 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 $195,497.84. This trade represents a 94.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the transaction, the chief accounting officer now 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. Insiders sold 453,836 shares of company stock worth $14,832,336 in the last ninety days. Insiders own 7.11% of the company's stock.

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Pinterest Trading Down 6.3 %

Shares of PINS stock traded down $1.73 during mid-day trading on Friday, reaching $25.78. The stock had a trading volume of 22,729,308 shares, compared to its average volume of 10,243,869. The company has a market cap of $17.49 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a 12-month low of $24.91 and a 12-month high of $45.19. The business has a 50-day simple moving average of $34.40 and a 200 day simple moving average of $32.42.

Pinterest (NYSE:PINS - Get Free Report) last posted 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%. Research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on PINS shares. The Goldman Sachs Group lifted their price objective on shares of Pinterest from $42.00 to $47.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Cantor Fitzgerald upped their price objective on Pinterest from $36.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Monness Crespi & Hardt raised Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 price objective for the company in a research report on Friday, January 10th. Rosenblatt Securities lifted their target price on Pinterest from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Finally, Sanford C. Bernstein upgraded 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 note on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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.