Pinterest, Inc. $PINS Shares Sold by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. decreased its holdings in Pinterest, Inc. (NYSE:PINS) by 14.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 212,650 shares of the company’s stock after selling 35,877 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Pinterest were worth $6,830,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in PINS. Norges Bank acquired a new stake in shares of Pinterest in the second quarter valued at about $477,853,000. Balyasny Asset Management L.P. increased its holdings in Pinterest by 1,138.8% in the second quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock valued at $165,012,000 after buying an additional 4,230,125 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Pinterest by 15.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock valued at $638,969,000 after acquiring an additional 2,319,964 shares during the period. Congress Asset Management Co. purchased a new position in Pinterest in the 2nd quarter valued at approximately $82,516,000. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Pinterest in the second quarter valued at $71,221,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PINS has been the subject of several recent research reports. Piper Sandler restated a “neutral” rating and set a $33.00 target price (down from $35.00) on shares of Pinterest in a report on Wednesday, November 5th. The Goldman Sachs Group decreased their price target on shares of Pinterest from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday. Benchmark decreased their target price on shares of Pinterest from $48.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Sanford C. Bernstein cut their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Finally, Monness Crespi & Hardt lowered Pinterest from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.93.

Pinterest Trading Down 3.1%

Shares of PINS opened at $25.96 on Friday. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $40.90. The firm has a market capitalization of $17.54 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 1.23 and a beta of 0.91. The stock’s fifty day simple moving average is $26.38 and its 200 day simple moving average is $31.99.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. Pinterest’s revenue was up 16.8% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. Sell-side analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 value of $1,991,123.83. Following the transaction, the insider owned 301,214 shares in the company, valued at approximately $8,099,644.46. This trade represents a 19.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Malik Ducard sold 2,293 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $26.18, for a total transaction of $60,030.74. Following the sale, the insider owned 697,480 shares of the company’s stock, valued at approximately $18,260,026.40. This represents a 0.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 105,161 shares of company stock valued at $2,796,466. 7.06% of the stock is currently owned by corporate insiders.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.