First Allied Advisory Services Inc. Makes New Investment in Pinterest (NYSE:PINS)

First Allied Advisory Services Inc. purchased a new position in shares of Pinterest (NYSE:PINS) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 15,740 shares of the company’s stock, valued at approximately $243,000.

A number of other institutional investors have also recently added to or reduced their stakes in PINS. FMR LLC increased its stake in shares of Pinterest by 9,401.2% in the 4th quarter. FMR LLC now owns 21,835,568 shares of the company’s stock valued at $407,015,000 after acquiring an additional 21,605,750 shares in the last quarter. FirstMark Capital I GP LLC bought a new stake in Pinterest during the 4th quarter valued at $175,509,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Pinterest by 187.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,857,997 shares of the company’s stock valued at $152,207,000 after purchasing an additional 6,432,356 shares in the last quarter. Nikko Asset Management Americas Inc. increased its stake in Pinterest by 203.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 8,780,905 shares of the company’s stock valued at $135,577,000 after purchasing an additional 5,888,564 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its stake in Pinterest by 7,159.4% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 4,473,172 shares of the company’s stock valued at $83,380,000 after purchasing an additional 4,411,553 shares in the last quarter. Hedge funds and other institutional investors own 46.23% of the company’s stock.

A number of analysts have commented on the stock. Royal Bank of Canada restated a “buy” rating and set a $27.00 price target on shares of Pinterest in a research note on Sunday, May 3rd. Nomura Instinet restated a “buy” rating and set a $28.00 price target (down previously from $32.00) on shares of Pinterest in a research note on Wednesday, May 6th. Nomura Securities restated a “buy” rating and set a $32.00 price target on shares of Pinterest in a research note on Sunday, April 19th. Wells Fargo & Co restated a “buy” rating and set a $32.00 price target on shares of Pinterest in a research note on Thursday, April 9th. Finally, MKM Partners cut their price objective on shares of Pinterest from $29.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Twelve investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Pinterest presently has an average rating of “Buy” and a consensus target price of $24.13.

In other Pinterest news, CEO Benjamin Silbermann sold 66,500 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $19.64, for a total transaction of $1,306,060.00. Following the sale, the chief executive officer now directly owns 66,500 shares of the company’s stock, valued at $1,306,060. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Todd R. Morgenfeld sold 36,233 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $18.59, for a total transaction of $673,571.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,128 shares of company stock worth $6,130,566.

Shares of NYSE:PINS opened at $19.50 on Wednesday. The company’s 50-day moving average is $18.30 and its 200 day moving average is $19.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 11.60 and a current ratio of 11.60. The company has a market capitalization of $10.91 billion and a P/E ratio of -6.17. Pinterest has a fifty-two week low of $10.10 and a fifty-two week high of $36.83.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). The company had revenue of $271.94 million during the quarter, compared to analysts’ expectations of $270.69 million. Pinterest had a negative return on equity of 73.06% and a negative net margin of 120.48%. Pinterest’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.32) earnings per share. As a group, research analysts predict that Pinterest will post -0.76 earnings per share for the current year.

Pinterest Profile

Pinterest, Inc provides a visual discovery engine that helps users to discover ideas for various projects and interests worldwide. Its platform allows users to discover ideas for daily activities, remodeling a house or training for a marathon, ongoing passions, and planning a wedding or a dream vacation.

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