Cambridge Investment Research Advisors Inc. Trims Stock Position in Pinterest, Inc. (NYSE:PINS)

Cambridge Investment Research Advisors Inc. lowered its position in shares of Pinterest, Inc. (NYSE:PINSFree Report) by 11.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,775 shares of the company’s stock after selling 5,034 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Pinterest were worth $1,399,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in Pinterest during the fourth quarter valued at approximately $27,000. Rakuten Securities Inc. bought a new stake in Pinterest during the fourth quarter valued at approximately $30,000. Washington Trust Advisors Inc. lifted its position in Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after purchasing an additional 326 shares during the last quarter. Clear Street Markets LLC bought a new stake in Pinterest during the third quarter valued at approximately $41,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Pinterest during the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PINS. Piper Sandler restated an “overweight” rating and issued a $52.00 price objective (up from $50.00) on shares of Pinterest in a report on Thursday, May 23rd. Roth Mkm boosted their price objective on shares of Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Royal Bank of Canada boosted their price objective on shares of Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. KeyCorp lowered their price objective on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.34.

Get Our Latest Stock Analysis on Pinterest

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,627 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total value of $481,590.34. Following the sale, the insider now directly owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total value of $481,590.34. Following the transaction, the insider now owns 307,256 shares in the company, valued at approximately $12,726,543.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the transaction, the chief financial officer now owns 392,829 shares in the company, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. Insiders have sold 133,622 shares of company stock valued at $4,737,421 in the last three months. 7.11% of the stock is currently owned by company insiders.

Pinterest Trading Up 3.7 %

Shares of Pinterest stock opened at $42.74 on Friday. The company’s fifty day simple moving average is $38.05 and its two-hundred day simple moving average is $36.70. The company has a market cap of $29.20 billion, a P/E ratio of 203.53, a PEG ratio of 4.05 and a beta of 0.97. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $43.12.

Pinterest (NYSE:PINSGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. The firm had revenue of $739.98 million for the quarter, compared to the consensus estimate of $699.96 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. Analysts predict that Pinterest, Inc. will post 0.43 EPS for the current fiscal year.

Pinterest Company Profile

(Free Report)

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.

Further Reading

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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