Envestnet Portfolio Solutions Inc. Has $367,000 Stake in Pinterest, Inc. (NYSE:PINS)

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Pinterest, Inc. (NYSE:PINS) by 33.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,825 shares of the company’s stock after selling 5,892 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Pinterest were worth $367,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Ethos Financial Group LLC grew its stake in Pinterest by 3.1% during the fourth quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock worth $342,000 after buying an additional 350 shares in the last quarter. Amalgamated Bank grew its stake in Pinterest by 0.9% during the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock worth $1,154,000 after buying an additional 372 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Pinterest by 20.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,564 shares of the company’s stock valued at $75,000 after purchasing an additional 429 shares in the last quarter. Redwood Investment Management LLC boosted its stake in shares of Pinterest by 3.2% in the 4th quarter. Redwood Investment Management LLC now owns 15,951 shares of the company’s stock valued at $463,000 after purchasing an additional 495 shares in the last quarter. Finally, Founders Financial Alliance LLC boosted its stake in shares of Pinterest by 5.9% in the 4th quarter. Founders Financial Alliance LLC now owns 10,056 shares of the company’s stock valued at $292,000 after purchasing an additional 560 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets reduced their price target on shares of Pinterest from $46.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Piper Sandler reduced their price target on shares of Pinterest from $41.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Raymond James Financial downgraded shares of Pinterest from an “overweight” rating to a “market perform” rating in a research note on Monday, April 7th. Stifel Nicolaus reduced their price target on shares of Pinterest from $50.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company reduced their price target on shares of Pinterest from $47.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Six equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.52.

Pinterest Stock Performance

Shares of NYSE PINS opened at $35.98 on Friday. The company has a market capitalization of $24.40 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $44.06. The company’s 50 day moving average price is $31.25 and its 200-day moving average price is $31.74.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 EPS. Analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Transactions at Pinterest

In other news, Director Jeremy S. Levine sold 6,274 shares of Pinterest stock in a transaction on Friday, June 6th. The shares were sold at an average price of $34.11, for a total value of $214,006.14. Following the completion of the sale, the director now owns 1,158,833 shares in the company, valued at $39,527,793.63. The trade was a 0.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the completion of the sale, the director now owns 6,274 shares of the company’s stock, valued at $196,187.98. This represents a 94.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,164,852 shares of company stock worth $38,812,675. Company insiders own 7.06% of the company’s stock.

Pinterest Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.