Potrero Capital Research LLC trimmed its stake in shares of Pinterest, Inc. (NYSE:PINS) by 56.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,475 shares of the company’s stock after selling 50,375 shares during the quarter. Potrero Capital Research LLC’s holdings in Pinterest were worth $2,848,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Eudaimonia Partners LLC bought a new stake in Pinterest during the 1st quarter worth approximately $25,000. Clearstead Advisors LLC grew its holdings in Pinterest by 412.9% during the 1st quarter. Clearstead Advisors LLC now owns 359 shares of the company’s stock worth $27,000 after acquiring an additional 289 shares during the last quarter. Total Clarity Wealth Management Inc. bought a new stake in Pinterest during the 1st quarter worth approximately $28,000. Parkside Financial Bank & Trust grew its holdings in Pinterest by 159.5% during the 1st quarter. Parkside Financial Bank & Trust now owns 436 shares of the company’s stock worth $32,000 after acquiring an additional 268 shares during the last quarter. Finally, First PREMIER Bank bought a new stake in Pinterest during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 61.06% of the company’s stock.
A number of equities research analysts have weighed in on PINS shares. TheStreet lowered shares of Pinterest from a “c-” rating to a “d+” rating in a report on Wednesday, April 28th. Wedbush reduced their price objective on shares of Pinterest from $100.00 to $91.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 28th. Rosenblatt Securities reduced their price objective on shares of Pinterest from $90.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 28th. Evercore ISI assumed coverage on shares of Pinterest in a research note on Tuesday, April 13th. They issued an “outperform” rating and a $97.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Pinterest from $102.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 28th. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $80.45.
Pinterest (NYSE:PINS) last posted its quarterly earnings results 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. The company had revenue of $485.23 million during the quarter, compared to analyst estimates of $471.49 million. Pinterest had a negative net margin of 0.46% and a positive return on equity of 4.86%. The firm’s revenue for the quarter was up 78.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.10) earnings per share. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.09 EPS for the current year.
In other Pinterest news, CAO Tseli Lily Yang sold 2,856 shares of the stock in a transaction dated Friday, May 21st. The shares were sold at an average price of $61.25, for a total transaction of $174,930.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Evan Sharp sold 69,194 shares of the stock in a transaction dated Monday, July 19th. The stock was sold at an average price of $66.88, for a total transaction of $4,627,694.72. Following the transaction, the insider now owns 69,194 shares of the company’s stock, valued at approximately $4,627,694.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 965,462 shares of company stock valued at $67,481,707. 8.45% of the stock is owned by company insiders.
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.
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