SteelPeak Wealth LLC Sells 61,938 Shares of Pinterest, Inc. $PINS

SteelPeak Wealth LLC cut its stake in Pinterest, Inc. (NYSE:PINS) by 67.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,069 shares of the company’s stock after selling 61,938 shares during the period. SteelPeak Wealth LLC’s holdings in Pinterest were worth $568,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PINS. IFP Advisors Inc raised its holdings in shares of Pinterest by 110.9% during the 3rd quarter. IFP Advisors Inc now owns 3,511 shares of the company’s stock valued at $66,000 after buying an additional 1,846 shares in the last quarter. Daytona Street Capital LLC bought a new stake in Pinterest in the 3rd quarter worth approximately $45,000. Assenagon Asset Management S.A. lifted its position in Pinterest by 300.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,398,316 shares of the company’s stock worth $83,084,000 after buying an additional 3,299,884 shares during the last quarter. Tempus Wealth Planning LLC lifted its position in Pinterest by 8.5% in the 3rd quarter. Tempus Wealth Planning LLC now owns 22,818 shares of the company’s stock worth $431,000 after buying an additional 1,783 shares during the last quarter. Finally, Seelaus Asset Management LLC lifted its position in Pinterest by 27.6% in the 3rd quarter. Seelaus Asset Management LLC now owns 26,829 shares of the company’s stock worth $507,000 after buying an additional 5,807 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup upped their target price on Pinterest from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Pinterest from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. UBS Group boosted their price objective on shares of Pinterest from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Jefferies Financial Group raised shares of Pinterest from a “hold” rating to a “buy” rating in a research note on Monday, August 31st. Finally, DA Davidson upped their price objective on shares of Pinterest from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Eighteen equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.90.

Insider Activity at Pinterest

In related news, Director Benjamin Silbermann sold 93,750 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $21.43, for a total transaction of $2,009,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Julia Donnelly sold 59,096 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $23.48, for a total transaction of $1,387,574.08. Following the sale, the chief financial officer owned 817,409 shares of the company’s stock, valued at $19,192,763.32. This represents a 6.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 644,952 shares of company stock worth $13,652,019 in the last 90 days. Company insiders own 8.09% of the company’s stock.

Pinterest Price Performance

PINS opened at $22.33 on Tuesday. The stock’s 50 day simple moving average is $20.92 and its 200 day simple moving average is $20.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.81 and a quick ratio of 3.81. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $35.42. The firm has a market cap of $12.51 billion, a price-to-earnings ratio of 56.18, a PEG ratio of 1.43 and a beta of 0.90.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Pinterest had a return on equity of 7.49% and a net margin of 5.46%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm earned $0.33 EPS. The business’s quarterly revenue was up 18.2% on a year-over-year basis. As a group, analysts predict that Pinterest, Inc. will post 0.58 earnings per share for the current year.

Pinterest Profile

Pinterest, Inc (NYSE: PINS) operates a visual discovery platform that helps people find ideas and inspiration for activities such as home improvement, cooking, fashion, travel and event planning. Users can discover, save and organize images and videos—known as Pins—on personalized boards and explore recommendations based on their interests.

The company also provides tools for businesses and creators to showcase products and content on the platform. Its advertising business includes promoted Pins and other advertising formats designed to help marketers reach users while they are discovering ideas, researching products and planning purchases.