Pinterest, Inc. (NYSE:PINS) Position Cut by ACG Wealth

ACG Wealth trimmed its stake in Pinterest, Inc. (NYSE:PINS) by 8.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,390 shares of the company’s stock after selling 300 shares during the quarter. ACG Wealth’s holdings in Pinterest were worth $251,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Pinterest by 9.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 185,377 shares of the company’s stock valued at $13,723,000 after purchasing an additional 15,497 shares in the last quarter. Avestar Capital LLC raised its stake in shares of Pinterest by 133.8% during the first quarter. Avestar Capital LLC now owns 14,194 shares of the company’s stock valued at $941,000 after purchasing an additional 8,123 shares in the last quarter. Raymond James Trust N.A. bought a new stake in shares of Pinterest during the first quarter valued at about $750,000. JBJ Investment Partners LLC raised its stake in shares of Pinterest by 21.3% during the first quarter. JBJ Investment Partners LLC now owns 3,810 shares of the company’s stock valued at $282,000 after purchasing an additional 668 shares in the last quarter. Finally, Next Capital Management LLC bought a new stake in shares of Pinterest during the first quarter valued at about $620,000. Institutional investors own 58.21% of the company’s stock.

Several equities research analysts have commented on the stock. Susquehanna boosted their price target on shares of Pinterest from $67.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 5th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Pinterest from $75.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 5th. Stifel Nicolaus started coverage on shares of Pinterest in a research report on Wednesday, January 20th. They issued a “buy” rating and a $85.00 price target on the stock. Evercore ISI assumed coverage on Pinterest in a research note on Tuesday, April 13th. They issued an “outperform” rating and a $97.00 price target on the stock. Finally, Wells Fargo & Company lifted their target price on Pinterest from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, January 28th. Eleven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $80.58.

Shares of NYSE PINS opened at $59.71 on Wednesday. The stock has a market capitalization of $38.03 billion, a PE ratio of -93.30 and a beta of 1.40. The business has a fifty day moving average price of $73.07 and a two-hundred day moving average price of $71.13. Pinterest, Inc. has a fifty-two week low of $15.82 and a fifty-two week high of $89.90.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, April 27th. The company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.19. Pinterest had a negative return on equity of 14.42% and a negative net margin of 26.81%. The firm had revenue of $485.23 million during the quarter, compared to analysts’ expectations of $471.49 million. During the same period in the previous year, the firm earned ($0.10) EPS. The company’s quarterly revenue was up 78.4% compared to the same quarter last year. As a group, equities research analysts expect that Pinterest, Inc. will post -0.41 earnings per share for the current fiscal year.

In other Pinterest news, CAO Tseli Lily Yang sold 2,440 shares of Pinterest stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $82.50, for a total transaction of $201,300.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Naveen Gavini sold 26,259 shares of Pinterest stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $70.83, for a total value of $1,859,924.97. The disclosure for this sale can be found here. Insiders have sold a total of 827,687 shares of company stock worth $63,867,719 in the last 90 days.

Pinterest Company Profile

Pinterest, Inc provides 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. It shows them visual recommendations based on people personal taste and interests.

Further Reading: What is Cost of Goods Sold (COGS)?

Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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