Nisa Investment Advisors LLC Sells 1,805 Shares of Pinterest, Inc. (NYSE:PINS)

Nisa Investment Advisors LLC lessened its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 10.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,800 shares of the company’s stock after selling 1,805 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Pinterest were worth $490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GFG Capital LLC bought a new position in Pinterest in the first quarter worth $211,000. Linden Thomas Advisory Services LLC raised its holdings in Pinterest by 6.9% in the first quarter. Linden Thomas Advisory Services LLC now owns 38,517 shares of the company’s stock worth $1,194,000 after purchasing an additional 2,471 shares in the last quarter. Blackhawk Capital Partners LLC. bought a new position in Pinterest in the first quarter worth $1,124,000. Ninety One SA PTY Ltd raised its holdings in Pinterest by 12.2% in the first quarter. Ninety One SA PTY Ltd now owns 88,626 shares of the company’s stock worth $2,741,000 after purchasing an additional 9,620 shares in the last quarter. Finally, Ninety One UK Ltd raised its holdings in Pinterest by 10.2% in the first quarter. Ninety One UK Ltd now owns 6,027,355 shares of the company’s stock worth $186,848,000 after purchasing an additional 555,742 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 29,606 shares of the company’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total value of $1,014,005.50. Following the completion of the sale, the chief financial officer directly owned 362,890 shares in the company, valued at $12,428,982.50. This represents a 7.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Benjamin Silbermann sold 408,332 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total value of $13,540,289.12. Following the completion of the sale, the director owned 6,274 shares of the company’s stock, valued at $208,045.84. This trade represents a 98.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,278,445 shares of company stock worth $43,269,922 over the last three months. Insiders own 7.06% of the company’s stock.

Pinterest Price Performance

Pinterest stock opened at $36.07 on Thursday. The stock has a market capitalization of $24.47 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 1.80 and a beta of 0.94. The business’s fifty day moving average is $33.80 and its 200 day moving average is $32.25. Pinterest, Inc. has a one year low of $23.68 and a one year high of $42.20.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $854.99 million during the quarter, compared to analysts’ expectations of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Ratings Changes

PINS has been the subject of a number of research reports. BMO Capital Markets decreased their price objective on Pinterest from $46.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. upgraded Pinterest from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $35.00 to $40.00 in a report on Tuesday, June 3rd. Benchmark decreased their price objective on Pinterest from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Stifel Nicolaus reduced their price target on Pinterest from $50.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, KeyCorp raised their price target on Pinterest from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Six investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.97.

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.