Private Advisor Group LLC Sells 37,416 Shares of Pinterest, Inc. $PINS

Private Advisor Group LLC cut its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 52.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new position in Pinterest during the 4th quarter valued at about $357,945,000. Davis Selected Advisers bought a new stake in shares of Pinterest in the third quarter worth approximately $253,887,000. State Street Corp raised its holdings in shares of Pinterest by 52.6% during the fourth quarter. State Street Corp now owns 21,492,169 shares of the company’s stock valued at $556,432,000 after purchasing an additional 7,412,213 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Pinterest by 30.5% during the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock valued at $694,082,000 after purchasing an additional 6,258,628 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Pinterest by 15.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock valued at $719,994,000 after purchasing an additional 3,669,476 shares during the period. 88.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Robert W. Baird lifted their target price on shares of Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Stifel Nicolaus increased their price target on Pinterest from $25.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Wells Fargo & Company raised their price target on Pinterest from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Evercore set a $27.00 price objective on Pinterest in a report on Tuesday, May 5th. Finally, DA Davidson assumed coverage on Pinterest in a research report on Wednesday, July 8th. They set a “buy” rating and a $26.00 price objective for the company. Seventeen research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.42.

Insider Transactions at Pinterest

In other news, Director Benjamin Silbermann sold 46,875 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $22.63, for a total value of $1,060,781.25. The transaction was disclosed in a 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, insider Wanjiku Juanita Walcott sold 14,208 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $19.65, for a total transaction of $279,187.20. Following the sale, the insider owned 691,840 shares in the company, valued at $13,594,656. This represents a 2.01% 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 323,845 shares of company stock worth $6,836,065 over the last quarter. 8.09% of the stock is owned by company insiders.

Pinterest Price Performance

Shares of Pinterest stock opened at $23.68 on Thursday. The stock has a market cap of $13.26 billion, a P/E ratio of 49.33, a P/E/G ratio of 1.28 and a beta of 0.89. 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 stock’s fifty day moving average is $20.87 and its 200 day moving average is $20.81. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93.

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

Pinterest 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.