Proficio Capital Partners LLC Takes $1.93 Million Position in Pinterest, Inc. (NYSE:PINS)

Proficio Capital Partners LLC acquired a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 66,410 shares of the company's stock, valued at approximately $1,926,000.

A number of other institutional investors have also recently made changes to their positions in PINS. Maverick Capital Ltd. raised its position in Pinterest by 47.6% in the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company's stock valued at $1,851,000 after purchasing an additional 18,430 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Pinterest by 8.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company's stock valued at $49,855,000 after purchasing an additional 119,367 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Pinterest by 4.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company's stock valued at $27,326,000 after purchasing an additional 32,539 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Pinterest by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company's stock valued at $137,669,000 after purchasing an additional 87,041 shares during the last quarter. Finally, Leibman Financial Services Inc. raised its position in Pinterest by 102.2% in the 4th quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company's stock valued at $1,862,000 after purchasing an additional 32,464 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

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Pinterest Price Performance

Shares of NYSE:PINS traded up $1.03 during midday trading on Friday, reaching $32.45. The company had a trading volume of 15,160,111 shares, compared to its average volume of 9,902,161. The stock's fifty day moving average price is $34.39 and its 200-day moving average price is $32.28. The stock has a market capitalization of $22.01 billion, a P/E ratio of 12.06, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. As a group, sell-side analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other Pinterest news, insider Wanjiku Juanita Walcott sold 6,690 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the sale, the insider now owns 254,211 shares in the company, valued at $8,350,831.35. The trade was a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Andrea Acosta sold 3,667 shares of the business'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 sale, the chief accounting officer now owns 144,129 shares of the company's stock, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 207,812 shares of company stock worth $6,798,857. Insiders own 7.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PINS. The Goldman Sachs Group increased their price target on shares of Pinterest from $42.00 to $47.00 and gave the company a "buy" rating in a report on Friday, February 7th. Monness Crespi & Hardt upgraded shares of Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 price target for the company in a report on Friday, January 10th. Morgan Stanley increased their price target 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. Stifel Nicolaus reiterated a "buy" rating and issued a $50.00 price target (up previously from $45.00) on shares of Pinterest in a report on Friday, February 7th. Finally, Cantor Fitzgerald raised their target price on shares of Pinterest from $36.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.30.

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.