Pinterest, Inc. $PINS Shares Sold by Avestar Capital LLC

Avestar Capital LLC lessened its stake in Pinterest, Inc. (NYSE:PINS) by 75.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,225 shares of the company’s stock after selling 18,766 shares during the quarter. Avestar Capital LLC’s holdings in Pinterest were worth $223,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC grew its holdings in Pinterest by 282.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after buying an additional 506 shares in the last quarter. West Branch Capital LLC purchased a new position in shares of Pinterest during the 2nd quarter worth $36,000. Wellington Shields Capital Management LLC acquired a new position in shares of Pinterest during the 2nd quarter valued at about $40,000. SVB Wealth LLC purchased a new stake in shares of Pinterest in the first quarter valued at about $56,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Pinterest by 138.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,586 shares of the company’s stock valued at $57,000 after purchasing an additional 922 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total transaction of $795,311.85. Following the sale, the chief financial officer directly owned 312,422 shares in the company, valued at $10,887,906.70. This represents a 6.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 301,214 shares of the company’s stock, valued at $8,099,644.46. This represents a 19.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 403,125 shares of company stock valued at $13,669,759. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Trading Up 1.5%

PINS opened at $27.16 on Tuesday. The stock’s 50-day moving average price is $29.60 and its 200 day moving average price is $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 price-to-earnings ratio of 9.43, a PEG ratio of 1.70 and a beta of 0.89.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. The company 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 year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Citigroup reiterated a “buy” rating on shares of Pinterest in a report on Wednesday, November 5th. Wells Fargo & Company reduced their price target on shares of Pinterest from $42.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. UBS Group lowered their price objective on Pinterest from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Mizuho assumed coverage on Pinterest in a research note on Monday, September 29th. They set an “outperform” rating and a $50.00 target price for the company. Finally, BMO Capital Markets decreased their price target on Pinterest from $41.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.97.

About Pinterest

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.