Cannon Advisors Inc. Invests $244,000 in Pinterest, Inc. (NYSE:PINS)

Cannon Advisors Inc. bought a new stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,427 shares of the company's stock, valued at approximately $244,000.

Other hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in Pinterest during the 4th quarter valued at $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 during the last quarter. True Wealth Design LLC boosted its stake in shares of Pinterest by 8,261.1% during 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 worth $50,000 after purchasing an additional 590 shares during the last quarter. Finally, Manchester Capital Management LLC increased its stake in Pinterest by 17,692.3% in 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. Institutional investors own 88.81% of the company's stock.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now directly owns 30,236 shares of the company's stock, valued at $920,081.48. This represents a 3.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total value of $3,192,135.41. Following the completion of the transaction, the director now owns 6,274 shares of the company's stock, valued at approximately $196,187.98. This represents a 94.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 453,836 shares of company stock valued at $14,832,336. 7.11% of the stock is owned by company insiders.

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Analysts Set New Price Targets

A number of equities analysts have commented on PINS shares. Rosenblatt Securities upped their target price on shares of Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Wedbush increased their price objective on Pinterest from $38.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. KeyCorp reduced their price objective on Pinterest from $46.00 to $41.00 and set an "overweight" rating on the stock in a report on Tuesday, March 18th. 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. Finally, Piper Sandler restated a "neutral" rating and issued a $41.00 price objective (up from $36.00) on shares of Pinterest in a report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.17.

Pinterest Trading Down 6.3 %

Shares of PINS stock traded down $1.73 during trading hours on Friday, hitting $25.78. The company's stock had a trading volume of 22,729,308 shares, compared to its average volume of 10,226,720. The stock has a market cap of $17.49 billion, a PE 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 company has a 50 day moving average of $34.40 and a 200 day moving average of $32.38.

Pinterest (NYSE:PINS - Get Free Report) last posted 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 8.10%. As a group, analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal 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.