Private Advisor Group LLC Reduces Holdings in Pinterest, Inc. $PINS

Private Advisor Group LLC decreased its position in shares of Pinterest, Inc. (NYSE:PINS) by 52.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,864 shares of the company’s stock after selling 37,416 shares during the period. Private Advisor Group LLC’s holdings in Pinterest were worth $621,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Elevated Capital Advisors LLC bought a new stake in shares of Pinterest in the 4th quarter worth about $26,000. Caitong International Asset Management Co. Ltd grew its holdings in Pinterest by 2,017.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock valued at $29,000 after purchasing an additional 1,049 shares during the last quarter. Addison Advisors LLC raised its position in Pinterest by 727.3% in the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after purchasing an additional 1,200 shares during the period. Garner Asset Management Corp purchased a new stake in Pinterest in the 4th quarter worth about $36,000. Finally, MidFirst Bank bought a new stake in Pinterest in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PINS. Evercore set a $27.00 target price on Pinterest in a research report on Tuesday, May 5th. Robert W. Baird raised their price target on Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. TD Cowen restated a “buy” rating on shares of Pinterest in a report on Monday, June 22nd. Benchmark cut their price objective on Pinterest from $34.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, Stifel Nicolaus increased their target price on Pinterest from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Seventeen research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Pinterest has an average rating of “Hold” and a consensus price target of $27.42.

Pinterest Stock Up 4.7%

Shares of NYSE PINS opened at $23.68 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The firm has a market capitalization of $13.26 billion, a price-to-earnings ratio of 49.33, a PEG ratio of 1.28 and a beta of 0.89. The stock has a 50 day moving average price of $20.87 and a 200 day moving average price of $20.81. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $965.84 million. During the same period last year, the business posted $0.23 EPS. Pinterest’s quarterly revenue was up 17.8% on a year-over-year basis. Sell-side analysts expect that Pinterest, Inc. will post 0.66 earnings per share for the current year.

Insider Activity

In related news, insider Wanjiku Juanita Walcott sold 14,208 shares of Pinterest stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $19.65, for a total value of $279,187.20. Following the completion of the sale, the insider directly owned 691,840 shares in the company, valued at $13,594,656. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $22.63, for a total transaction of $1,060,781.25. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 323,845 shares of company stock valued at $6,836,065 over the last 90 days. 8.09% of the stock is currently owned by corporate insiders.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.