Whetstone Capital Advisors LLC Sells 15,991 Shares of Pinterest, Inc. (NYSE:PINS)

Whetstone Capital Advisors LLC lowered its stake in Pinterest, Inc. (NYSE:PINS) by 4.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 356,704 shares of the company’s stock after selling 15,991 shares during the quarter. Pinterest comprises about 5.6% of Whetstone Capital Advisors LLC’s investment portfolio, making the stock its 6th biggest position. Whetstone Capital Advisors LLC’s holdings in Pinterest were worth $26,407,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PINS. Baillie Gifford & Co. acquired a new position in Pinterest in the fourth quarter valued at about $28,000. Total Clarity Wealth Management Inc. acquired a new stake in shares of Pinterest during the first quarter worth about $28,000. Parkside Financial Bank & Trust lifted its position in shares of Pinterest by 159.5% during the first quarter. Parkside Financial Bank & Trust now owns 436 shares of the company’s stock worth $32,000 after purchasing an additional 268 shares in the last quarter. Winslow Evans & Crocker Inc. acquired a new stake in shares of Pinterest during the fourth quarter worth about $33,000. Finally, First PREMIER Bank acquired a new stake in shares of Pinterest during the first quarter worth about $37,000. 61.09% of the stock is currently owned by institutional investors.

Shares of PINS traded up $0.13 during mid-day trading on Friday, reaching $68.38. 166,228 shares of the company’s stock were exchanged, compared to its average volume of 12,920,399. The stock has a market cap of $43.55 billion, a PE ratio of -1,138.67 and a beta of 1.24. The stock’s fifty day simple moving average is $68.50. Pinterest, Inc. has a 52-week low of $20.07 and a 52-week high of $89.90.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, April 27th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.19. The business had revenue of $485.23 million for the quarter, compared to analyst estimates of $471.49 million. Pinterest had a negative net margin of 0.46% and a positive return on equity of 4.86%. The company’s revenue for the quarter was up 78.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.09 earnings per share for the current fiscal year.

In related news, CAO Tseli Lily Yang sold 11,283 shares of the stock in a transaction on Monday, March 22nd. The stock was sold at an average price of $70.81, for a total transaction of $798,949.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Naveen Gavini sold 8,742 shares of the stock in a transaction on Wednesday, May 12th. The stock was sold at an average price of $57.32, for a total value of $501,091.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 797,592 shares of company stock worth $55,123,114. Insiders own 8.45% of the company’s stock.

Several brokerages have recently issued reports on PINS. Piper Sandler reduced their price target on shares of Pinterest from $85.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 28th. Morgan Stanley cut their target price on shares of Pinterest from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 28th. Citigroup cut their target price on shares of Pinterest from $85.00 to $65.00 in a research note on Monday, May 10th. Rosenblatt Securities cut their target price on shares of Pinterest from $90.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 28th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut their target price on shares of Pinterest from $85.00 to $65.00 in a research note on Monday, May 10th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Pinterest has a consensus rating of “Buy” and a consensus price target of $80.58.

About Pinterest

Pinterest, Inc provides visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others. It shows them visual recommendations based on people personal taste and interests.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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