Advisors Asset Management Inc. Decreases Stock Holdings in Pinterest, Inc. $PINS

Advisors Asset Management Inc. decreased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 22.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,478 shares of the company’s stock after selling 80,048 shares during the quarter. Advisors Asset Management Inc.’s holdings in Pinterest were worth $9,735,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its stake in shares of Pinterest by 282.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after acquiring an additional 506 shares in the last quarter. West Branch Capital LLC acquired a new position in Pinterest in the second quarter valued at approximately $36,000. Wellington Shields Capital Management LLC purchased a new position in shares of Pinterest during the second quarter worth $40,000. SVB Wealth LLC acquired a new stake in shares of Pinterest in the first quarter valued at $56,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Pinterest by 138.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,586 shares of the company’s stock worth $57,000 after acquiring an additional 922 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 74,047 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the transaction, the insider owned 301,214 shares of the company’s stock, valued at $8,099,644.46. The trade was a 19.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of the company’s 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 sale, the chief financial officer owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. This represents a 6.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 505,208 shares of company stock valued at $17,450,914. 7.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PINS shares. Monness Crespi & Hardt lowered Pinterest from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 5th. Guggenheim lowered their price objective on shares of Pinterest from $44.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. JPMorgan Chase & Co. reduced their price objective on shares of Pinterest from $44.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Sanford C. Bernstein dropped their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pinterest in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.55.

Pinterest Price Performance

NYSE:PINS opened at $25.51 on Wednesday. The business’s 50-day simple moving average is $31.06 and its 200-day simple moving average is $33.84. The stock has a market capitalization of $17.23 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 1.50 and a beta of 0.96. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90.

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

Pinterest Company 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.