IQ EQ FUND MANAGEMENT IRELAND Ltd Takes Position in Pinterest, Inc. (NYSE:PINS)

IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Pinterest, Inc. (NYSE:PINS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,848 shares of the company’s stock, valued at approximately $258,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Pinterest by 14.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 122,974 shares of the company’s stock valued at $5,419,000 after buying an additional 15,843 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Pinterest in the 2nd quarter worth approximately $79,000. Burney Co. purchased a new stake in Pinterest in the 2nd quarter worth approximately $209,000. Encompass More Asset Management purchased a new stake in Pinterest in the 2nd quarter worth approximately $245,000. Finally, 1834 Investment Advisors Co. lifted its stake in Pinterest by 45.6% in the 2nd quarter. 1834 Investment Advisors Co. now owns 23,935 shares of the company’s stock worth $1,055,000 after purchasing an additional 7,493 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Insider Activity at Pinterest

In related news, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $43.90, for a total transaction of $168,795.50. Following the completion of the transaction, the chief accounting officer now directly owns 189,470 shares of the company’s stock, valued at approximately $8,317,733. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $43.90, for a total transaction of $168,795.50. Following the completion of the sale, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The disclosure for this sale can be found here. Insiders sold a total of 36,689 shares of company stock valued at $1,628,002 in the last three months. Company insiders own 7.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PINS shares. Rosenblatt Securities reiterated a “buy” rating and issued a $48.00 target price on shares of Pinterest in a research note on Wednesday, July 31st. Evercore ISI lowered their target price on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. KeyCorp lowered their price objective on shares of Pinterest from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price objective on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, Loop Capital raised their price objective on shares of Pinterest from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.71.

Pinterest Stock Up 2.2 %

Shares of NYSE:PINS traded up $0.70 on Friday, hitting $31.90. The company had a trading volume of 2,309,480 shares, compared to its average volume of 9,769,219. The firm’s 50-day simple moving average is $36.82 and its two-hundred day simple moving average is $37.38. Pinterest, Inc. has a 1 year low of $23.59 and a 1 year high of $45.19. The firm has a market capitalization of $21.79 billion, a price-to-earnings ratio of 148.55, a P/E/G ratio of 3.45 and a beta of 0.97.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The firm had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. During the same period last year, the company posted ($0.04) EPS. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. Equities research analysts anticipate that Pinterest, Inc. will post 0.39 EPS 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.