Amalgamated Bank Sells 5,414 Shares of Pinterest, Inc. $PINS

Amalgamated Bank reduced its position in Pinterest, Inc. (NYSE:PINS) by 12.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,472 shares of the company’s stock after selling 5,414 shares during the quarter. Amalgamated Bank’s holdings in Pinterest were worth $1,344,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. West Branch Capital LLC acquired a new position in Pinterest in the second quarter valued at $36,000. LRI Investments LLC raised its position in shares of Pinterest by 97.7% in the 1st quarter. LRI Investments LLC now owns 1,374 shares of the company’s stock worth $43,000 after acquiring an additional 679 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of Pinterest by 798.4% in the 1st quarter. Whittier Trust Co. now owns 1,707 shares of the company’s stock valued at $53,000 after purchasing an additional 1,517 shares during the period. SVB Wealth LLC bought a new stake in shares of Pinterest during the 1st quarter valued at about $56,000. Finally, Larson Financial Group LLC boosted its position in shares of Pinterest by 1,773.5% during the 1st quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $57,000 after purchasing an additional 1,738 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the completion of the sale, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. This represents a 6.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $35.00, for a total value of $40,250.00. Following the transaction, the director owned 30,600 shares in the company, valued at approximately $1,071,000. This trade represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 640,236 shares of company stock valued at $22,878,326. 7.06% of the stock is owned by company insiders.

Pinterest Trading Up 2.2%

Pinterest stock opened at $26.33 on Friday. The firm has a market capitalization of $17.90 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 1.32 and a beta of 0.96. The firm’s fifty day moving average price is $33.78 and its two-hundred day moving average price is $33.77. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The company had revenue of $665.93 million for the quarter. On average, research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PINS. KeyCorp lifted their target price on Pinterest from $40.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Wall Street Zen lowered shares of Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Mizuho assumed coverage on shares of Pinterest in a research report on Monday, September 29th. They set an “outperform” rating and a $50.00 target price on the stock. BMO Capital Markets reduced their price target on shares of Pinterest from $41.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Morgan Stanley raised shares of Pinterest from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $37.00 to $45.00 in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus price target of $39.23.

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.