Emerald Advisers LLC Trims Stock Position in Pinterest, Inc. $PINS

Emerald Advisers LLC cut its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 65.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,511 shares of the company’s stock after selling 18,415 shares during the quarter. Emerald Advisers LLC’s holdings in Pinterest were worth $341,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. TD Private Client Wealth LLC lifted its position in Pinterest by 16.5% during the second quarter. TD Private Client Wealth LLC now owns 2,623 shares of the company’s stock worth $94,000 after buying an additional 371 shares during the period. Riverpark Capital Management LLC raised its holdings in shares of Pinterest by 1.2% in the 1st quarter. Riverpark Capital Management LLC now owns 31,825 shares of the company’s stock worth $987,000 after purchasing an additional 377 shares during the period. Whittier Trust Co. raised its holdings in shares of Pinterest by 22.3% in the 2nd quarter. Whittier Trust Co. now owns 2,088 shares of the company’s stock worth $75,000 after purchasing an additional 381 shares during the period. Optas LLC raised its holdings in shares of Pinterest by 1.9% in the 2nd quarter. Optas LLC now owns 23,315 shares of the company’s stock worth $836,000 after purchasing an additional 442 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Pinterest by 18.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock worth $96,000 after purchasing an additional 476 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $32.83 on Thursday. The company has a market cap of $22.32 billion, a P/E ratio of 11.77, a PEG ratio of 1.44 and a beta of 0.81. Pinterest, Inc. has a one year low of $23.68 and a one year high of $40.90. The business’s 50-day simple moving average is $34.39 and its 200 day simple moving average is $33.61.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The business had revenue of $665.93 million for the quarter. Pinterest had a return on equity of 8.44% and a net margin of 49.31%. Analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total transaction of $3,558,613.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $35.00, for a total value of $40,250.00. Following the sale, the director owned 30,600 shares in the company, valued at $1,071,000. This represents a 3.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 640,236 shares of company stock valued at $22,878,326. Corporate insiders own 7.06% of the company’s stock.

Wall Street Analysts Forecast Growth

PINS has been the topic of a number of research reports. Piper Sandler set a $40.00 price objective on Pinterest in a report on Friday, August 8th. Mizuho initiated coverage on Pinterest in a report on Monday, September 29th. They issued an “outperform” rating and a $50.00 price objective on the stock. Susquehanna restated a “positive” rating and issued a $42.00 price objective on shares of Pinterest in a report on Friday, August 8th. Guggenheim restated a “buy” rating on shares of Pinterest in a report on Tuesday, September 2nd. Finally, Wall Street Zen downgraded Pinterest from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.67.

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.