IFP Advisors Inc Sells 32,999 Shares of Pinterest, Inc. $PINS

IFP Advisors Inc reduced its stake in Pinterest, Inc. (NYSE:PINS) by 79.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 8,706 shares of the company’s stock after selling 32,999 shares during the quarter. IFP Advisors Inc’s holdings in Pinterest were worth $281,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Pinterest in the 2nd quarter worth $477,853,000. Balyasny Asset Management L.P. raised its holdings in shares of Pinterest by 1,138.8% in the second quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock valued at $165,012,000 after purchasing an additional 4,230,125 shares during the last quarter. Man Group plc lifted its position in shares of Pinterest by 185.7% during the third quarter. Man Group plc now owns 4,983,427 shares of the company’s stock valued at $160,317,000 after purchasing an additional 3,239,222 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Pinterest by 18.5% during the third quarter. Victory Capital Management Inc. now owns 20,550,242 shares of the company’s stock valued at $685,899,000 after purchasing an additional 3,213,241 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Pinterest by 5.3% during the third quarter. Vanguard Group Inc. now owns 60,986,423 shares of the company’s stock valued at $1,961,933,000 after purchasing an additional 3,044,674 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Malik Ducard sold 2,293 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $22.06, for a total transaction of $50,583.58. Following the transaction, the insider owned 695,187 shares of the company’s stock, valued at $15,335,825.22. This represents a 0.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 5,636 shares of company stock valued at $131,614 in the last 90 days. Insiders own 7.06% of the company’s stock.

Analyst Ratings Changes

PINS has been the subject of a number of recent analyst reports. Citigroup downgraded shares of Pinterest from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $38.00 to $19.00 in a research report on Friday, February 13th. Wedbush cut their target price on Pinterest from $30.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, February 13th. Guggenheim decreased their price target on Pinterest from $38.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Pinterest in a research report on Monday, December 29th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $20.00 price objective on shares of Pinterest in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nineteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Pinterest presently has a consensus rating of “Hold” and a consensus price target of $25.61.

Pinterest Stock Down 1.0%

Shares of PINS stock opened at $17.77 on Friday. The firm has a market cap of $11.82 billion, a P/E ratio of 29.14, a PEG ratio of 1.17 and a beta of 0.93. The company has a 50 day moving average of $19.65 and a 200-day moving average of $26.09. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $39.93.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.01). Pinterest had a net margin of 9.87% and a return on equity of 7.95%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the company posted $0.56 EPS. Pinterest’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts expect that Pinterest, Inc. will post 0.6 EPS for the current year.

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.