Pinterest, Inc. $PINS Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lowered its position in shares of Pinterest, Inc. (NYSE:PINS) by 34.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,308,393 shares of the company’s stock after selling 694,400 shares during the period. Congress Asset Management Co. owned approximately 0.19% of Pinterest worth $33,874,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PINS. N.E.W. Advisory Services LLC lifted its holdings in Pinterest by 505.7% in the 3rd quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock worth $27,000 after buying an additional 713 shares in the last quarter. Atlantic Union Bankshares Corp grew its stake in shares of Pinterest by 3,839.1% during the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock valued at $29,000 after acquiring an additional 883 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Pinterest by 46.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company’s stock worth $42,000 after acquiring an additional 419 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Pinterest by 2,409.1% during the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock worth $44,000 after acquiring an additional 1,325 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Pinterest in the second quarter worth about $45,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Malik Ducard sold 2,293 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $22.06, for a total transaction of $50,583.58. Following the completion of the sale, the insider directly owned 695,187 shares of the company’s stock, valued at $15,335,825.22. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 5,636 shares of company stock valued at $131,614. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Price Performance

Shares of PINS stock opened at $18.40 on Wednesday. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $39.93. The firm has a market capitalization of $12.24 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 1.24 and a beta of 0.93. The business has a 50 day simple moving average of $20.16 and a 200 day simple moving average of $26.34.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Pinterest had a net margin of 9.87% and a return on equity of 7.95%. Pinterest’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 earnings per share. On average, equities analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

PINS has been the topic of a number of recent analyst reports. Guggenheim cut their target price on Pinterest from $38.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Stifel Nicolaus decreased their price target on shares of Pinterest from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Wall Street Zen upgraded shares of Pinterest from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company cut their price target on shares of Pinterest from $35.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Finally, Bank of America reiterated a “neutral” rating and set a $19.00 price objective (down from $39.00) on shares of Pinterest in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nineteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of “Hold” and an average price target of $25.87.

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.