LPL Financial LLC Lowers Stock Position in Pinterest, Inc. (NYSE:PINS)

LPL Financial LLC trimmed its holdings in Pinterest, Inc. (NYSE:PINS) by 9.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 174,229 shares of the company’s stock after selling 17,919 shares during the quarter. LPL Financial LLC’s holdings in Pinterest were worth $4,751,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PINS. Cohanzick Management LLC purchased a new stake in shares of Pinterest in the first quarter valued at about $25,000. Private Trust Co. NA lifted its position in Pinterest by 315.3% during the 1st quarter. Private Trust Co. NA now owns 1,142 shares of the company’s stock worth $31,000 after acquiring an additional 867 shares during the period. CI Investments Inc. grew its stake in shares of Pinterest by 114.2% in the 4th quarter. CI Investments Inc. now owns 1,634 shares of the company’s stock valued at $40,000 after purchasing an additional 871 shares during the last quarter. Stonebridge Capital Advisors LLC increased its holdings in shares of Pinterest by 5,138.9% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,886 shares of the company’s stock valued at $46,000 after purchasing an additional 1,850 shares during the period. Finally, Belpointe Asset Management LLC purchased a new stake in shares of Pinterest during the fourth quarter worth approximately $69,000. Hedge funds and other institutional investors own 72.63% of the company’s stock.

Insider Activity at Pinterest

In other Pinterest news, Director Jeffrey D. Jordan sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $30.70, for a total value of $76,750.00. Following the sale, the director now directly owns 169,215 shares of the company’s stock, valued at approximately $5,194,900.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Jeffrey D. Jordan sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $30.70, for a total value of $76,750.00. Following the sale, the director now directly owns 169,215 shares of the company’s stock, valued at $5,194,900.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Benjamin Silbermann sold 180,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $24.02, for a total transaction of $4,323,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 894,482 shares of company stock worth $23,537,824. 6.85% of the stock is currently owned by insiders.

Pinterest Trading Up 0.6 %

NYSE:PINS opened at $27.65 on Friday. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of -64.30, a price-to-earnings-growth ratio of 85.44 and a beta of 1.02. Pinterest, Inc. has a 12-month low of $20.60 and a 12-month high of $30.86. The company’s 50-day moving average is $27.46 and its two-hundred day moving average is $25.96.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, August 1st. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.06. Pinterest had a negative net margin of 10.14% and a negative return on equity of 4.59%. The firm had revenue of $708.03 million during the quarter, compared to analysts’ expectations of $698.28 million. On average, equities research analysts forecast that Pinterest, Inc. will post 0.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on PINS shares. JPMorgan Chase & Co. boosted their price objective on shares of Pinterest from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. Wedbush started coverage on shares of Pinterest in a research report on Monday, August 21st. They issued a “neutral” rating and a $30.00 price objective for the company. Wolfe Research boosted their target price on Pinterest from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Wells Fargo & Company raised their price target on Pinterest from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. Finally, Evercore ISI upgraded Pinterest from an “in-line” rating to an “outperform” rating and set a $41.00 price target on the stock in a research note on Monday, July 17th. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.58.

About Pinterest

Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.