Zevenbergen Capital Investments LLC trimmed its position in Pinterest, Inc. (NYSE:PINS) by 13.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 272,235 shares of the company’s stock after selling 42,265 shares during the period. Zevenbergen Capital Investments LLC’s holdings in Pinterest were worth $21,493,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Eudaimonia Partners LLC purchased a new stake in Pinterest in the first quarter valued at approximately $25,000. Clearstead Advisors LLC raised its stake in Pinterest by 412.9% in the first quarter. Clearstead Advisors LLC now owns 359 shares of the company’s stock valued at $27,000 after purchasing an additional 289 shares in the last quarter. TCI Wealth Advisors Inc. raised its stake in Pinterest by 350.6% in the second quarter. TCI Wealth Advisors Inc. now owns 392 shares of the company’s stock valued at $31,000 after purchasing an additional 305 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Pinterest by 159.5% in the first quarter. Parkside Financial Bank & Trust now owns 436 shares of the company’s stock valued at $32,000 after purchasing an additional 268 shares in the last quarter. Finally, BerganKDV Wealth Management LLC raised its stake in Pinterest by 86.9% in the second quarter. BerganKDV Wealth Management LLC now owns 542 shares of the company’s stock valued at $43,000 after purchasing an additional 252 shares in the last quarter. 64.27% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Evan Sharp sold 103,503 shares of Pinterest stock in a transaction dated Wednesday, September 15th. The stock was sold at an average price of $53.82, for a total value of $5,570,531.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Benjamin Silbermann sold 37,500 shares of Pinterest stock in a transaction dated Thursday, June 24th. The stock was sold at an average price of $75.90, for a total value of $2,846,250.00. Following the completion of the transaction, the chief executive officer now directly owns 25,000 shares of the company’s stock, valued at approximately $1,897,500. The disclosure for this sale can be found here. In the last ninety days, insiders sold 784,617 shares of company stock valued at $53,697,881. 8.45% of the stock is owned by insiders.
Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, July 29th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.36. The business had revenue of $613.21 million during the quarter, compared to analyst estimates of $560.93 million. Pinterest had a return on equity of 12.09% and a net margin of 7.18%. On average, equities analysts forecast that Pinterest, Inc. will post 0.25 EPS for the current year.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Pinterest from a “buy” rating to a “hold” rating and set a $83.00 target price on the stock. in a research note on Tuesday, June 29th. Rosenblatt Securities decreased their price target on shares of Pinterest from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, July 30th. KeyCorp decreased their price target on shares of Pinterest from $89.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, July 30th. MKM Partners decreased their price target on shares of Pinterest from $90.00 to $74.00 and set a “buy” rating on the stock in a research note on Friday, July 30th. Finally, JPMorgan Chase & Co. downgraded shares of Pinterest to a “hold” rating and set a $68.00 price target on the stock. in a research note on Thursday, August 5th. Thirteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $76.40.
Pinterest, Inc engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. The company was founded by Benjamin Silbermann, Paul C. Sciarra, and Evan Sharp in October 2008 and is headquartered in San Francisco, CA.
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