Independent Advisor Alliance cut its holdings in Pinterest, Inc. (NYSE:PINS – Get Rating) by 13.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,762 shares of the company’s stock after selling 3,588 shares during the period. Independent Advisor Alliance’s holdings in Pinterest were worth $560,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of PINS. Norges Bank bought a new stake in Pinterest in the fourth quarter worth $178,278,000. Alliancebernstein L.P. boosted its holdings in Pinterest by 909.3% in the fourth quarter. Alliancebernstein L.P. now owns 4,222,151 shares of the company’s stock worth $153,475,000 after purchasing an additional 3,803,813 shares in the last quarter. Flossbach Von Storch AG boosted its holdings in Pinterest by 7.1% in the fourth quarter. Flossbach Von Storch AG now owns 27,165,549 shares of the company’s stock worth $987,468,000 after purchasing an additional 1,807,119 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Pinterest by 109.7% in the first quarter. SG Americas Securities LLC now owns 151,804 shares of the company’s stock worth $3,736,000 after purchasing an additional 1,714,486 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Pinterest in the fourth quarter worth $57,517,000. 63.76% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently issued reports on PINS. Credit Suisse Group decreased their price objective on shares of Pinterest from $31.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, July 19th. TheStreet cut shares of Pinterest from a “c” rating to a “d+” rating in a report on Tuesday, May 31st. Wedbush decreased their price target on shares of Pinterest from $39.00 to $26.00 in a report on Thursday, April 28th. Susquehanna Bancshares upgraded shares of Pinterest to a “positive” rating and upped their price target for the company from $22.00 to $35.00 in a report on Tuesday. Finally, Wells Fargo & Company decreased their price target on shares of Pinterest from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday. Nineteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $29.76.
Pinterest Stock Up 0.1 %
Pinterest (NYSE:PINS – Get Rating) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.06). Pinterest had a return on equity of 8.35% and a net margin of 8.10%. The business had revenue of $666.00 million during the quarter, compared to analyst estimates of $663.19 million. During the same period last year, the company earned $0.11 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, research analysts expect that Pinterest, Inc. will post 0.11 EPS for the current year.
Insider Buying and Selling
In other Pinterest news, CEO William J. Ready purchased 222,551 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased at an average price of $22.47 per share, with a total value of $5,000,720.97. Following the completion of the transaction, the chief executive officer now directly owns 222,551 shares of the company’s stock, valued at approximately $5,000,720.97. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Naveen Gavini sold 5,491 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $20.00, for a total transaction of $109,820.00. Following the completion of the sale, the senior vice president now owns 529,551 shares of the company’s stock, valued at $10,591,020. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William J. Ready acquired 222,551 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average cost of $22.47 per share, with a total value of $5,000,720.97. Following the acquisition, the chief executive officer now owns 222,551 shares of the company’s stock, valued at approximately $5,000,720.97. The disclosure for this purchase can be found here. Insiders sold 548,619 shares of company stock valued at $10,307,146 over the last quarter. Corporate insiders own 7.58% of the company’s stock.
Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.
- Get a free copy of the StockNews.com research report on Pinterest (PINS)
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