Brown Advisory Inc. Sells 123,003 Shares of Pinterest, Inc. $PINS

Brown Advisory Inc. cut its position in Pinterest, Inc. (NYSE:PINS) by 39.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 186,133 shares of the company’s stock after selling 123,003 shares during the period. Brown Advisory Inc.’s holdings in Pinterest were worth $6,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in Pinterest by 25.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock worth $988,662,000 after buying an additional 6,460,143 shares during the period. Franklin Resources Inc. lifted its position in shares of Pinterest by 4.4% in the second quarter. Franklin Resources Inc. now owns 16,862,033 shares of the company’s stock valued at $604,673,000 after acquiring an additional 718,105 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Pinterest by 13.7% in the first quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company’s stock valued at $480,452,000 after acquiring an additional 1,862,654 shares in the last quarter. Amundi boosted its stake in shares of Pinterest by 618.9% in the first quarter. Amundi now owns 14,254,741 shares of the company’s stock worth $441,897,000 after acquiring an additional 12,271,958 shares during the period. Finally, Norges Bank purchased a new stake in shares of Pinterest during the second quarter worth about $477,853,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PINS. Barclays lowered their price target on Pinterest from $40.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Cantor Fitzgerald lowered their target price on shares of Pinterest from $40.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. BMO Capital Markets cut their target price on shares of Pinterest from $41.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Rosenblatt Securities reiterated a “neutral” rating and issued a $30.00 price target (down from $49.00) on shares of Pinterest in a report on Wednesday, November 5th. Finally, Wedbush downgraded shares of Pinterest from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $34.00 to $30.00 in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Pinterest has an average rating of “Moderate Buy” and an average price target of $38.97.

Pinterest Trading Up 1.5%

PINS opened at $27.16 on Tuesday. The stock has a 50-day moving average of $29.60 and a 200 day moving average of $33.48. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90. The firm has a market cap of $18.35 billion, a P/E ratio of 9.43, a P/E/G ratio of 1.70 and a beta of 0.89.

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

Insider Buying and Selling

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total transaction of $3,558,613.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the transaction, the insider owned 301,214 shares in the company, valued at $8,099,644.46. This trade represents a 19.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 403,125 shares of company stock worth $13,669,759 over the last three months. 7.11% of the stock is owned by insiders.

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.