EverSource Wealth Advisors LLC Trims Position in Pinterest, Inc. (NYSE:PINS)

EverSource Wealth Advisors LLC trimmed its holdings in Pinterest, Inc. (NYSE:PINS) by 2.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,528 shares of the company’s stock after selling 314 shares during the period. EverSource Wealth Advisors LLC’s holdings in Pinterest were worth $390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. ARK Investment Management LLC raised its holdings in Pinterest by 152.3% during the fourth quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock worth $53,507,000 after purchasing an additional 872,016 shares in the last quarter. Nordea Investment Management AB raised its holdings in Pinterest by 57.9% during the fourth quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock worth $32,766,000 after purchasing an additional 323,547 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Pinterest by 3,402.0% during the fourth quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock worth $2,973,000 after purchasing an additional 77,974 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Pinterest by 53.1% during the third quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock worth $84,826,000 after purchasing an additional 1,089,299 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Pinterest by 55.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock worth $6,477,000 after purchasing an additional 62,117 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the transaction, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction on Monday, April 1st. The shares were sold at an average price of $35.08, for a total transaction of $701,600.00. Following the sale, the director now owns 34,215 shares of the company’s stock, valued at approximately $1,200,262.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction on Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the sale, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,405 shares of company stock valued at $5,855,142. Company insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

PINS has been the subject of several analyst reports. Benchmark reissued a “hold” rating on shares of Pinterest in a report on Wednesday, May 1st. KeyCorp lowered their target price on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Piper Sandler restated an “overweight” rating and set a $52.00 target price (up from $50.00) on shares of Pinterest in a research report on Thursday. Evercore ISI upped their target price on shares of Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, Wells Fargo & Company upped their target price on shares of Pinterest from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.34.

Pinterest Price Performance

NYSE:PINS traded up $0.51 during trading hours on Friday, reaching $41.81. 356,057 shares of the company were exchanged, compared to its average volume of 9,969,147. The firm has a market cap of $28.56 billion, a price-to-earnings ratio of 196.68, a PEG ratio of 4.12 and a beta of 0.99. Pinterest, Inc. has a 52-week low of $23.35 and a 52-week high of $43.12. The stock has a 50 day simple moving average of $36.63 and a 200 day simple moving average of $35.99.

Pinterest (NYSE:PINS) last posted its quarterly 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. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The company had revenue of $739.98 million for the quarter, compared to the consensus estimate of $699.96 million. On average, analysts predict that Pinterest, Inc. will post 0.43 EPS for the current fiscal year.

Pinterest Company Profile

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.