Amova Asset Management Americas Inc. Has $13.61 Million Stock Holdings in Pinterest, Inc. $PINS

Amova Asset Management Americas Inc. lowered its stake in shares of Pinterest, Inc. (NYSE:PINS) by 70.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 741,035 shares of the company’s stock after selling 1,734,420 shares during the quarter. Amova Asset Management Americas Inc. owned approximately 0.11% of Pinterest worth $13,605,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. increased its holdings in shares of Pinterest by 42.7% in the first quarter. Meeder Advisory Services Inc. now owns 11,028 shares of the company’s stock valued at $202,000 after purchasing an additional 3,301 shares in the last quarter. Parallel Advisors LLC raised its position in Pinterest by 31.7% in the 1st quarter. Parallel Advisors LLC now owns 5,780 shares of the company’s stock worth $106,000 after purchasing an additional 1,390 shares during the last quarter. SEB Asset Management AB acquired a new position in Pinterest during the 1st quarter worth $5,656,000. Swiss National Bank lifted its holdings in Pinterest by 6.4% during the 1st quarter. Swiss National Bank now owns 1,748,700 shares of the company’s stock worth $32,071,000 after buying an additional 104,600 shares in the last quarter. Finally, Aurora Investment Counsel boosted its position in Pinterest by 30.5% in the 1st quarter. Aurora Investment Counsel now owns 77,904 shares of the company’s stock valued at $1,429,000 after buying an additional 18,216 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PINS. Rosenblatt Securities raised their target price on shares of Pinterest from $20.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Pinterest in a research note on Tuesday, June 30th. Mizuho increased their price objective on shares of Pinterest from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Pinterest in a research note on Tuesday, May 5th. Finally, Benchmark lowered their target price on shares of Pinterest from $34.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Seventeen research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.66.

Pinterest Trading Down 1.6%

Shares of NYSE:PINS opened at $22.82 on Tuesday. Pinterest, Inc. has a 12 month low of $13.84 and a 12 month high of $39.93. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $20.97 and its 200 day simple moving average is $20.74. The firm has a market cap of $12.78 billion, a price-to-earnings ratio of 47.54, a PEG ratio of 1.32 and a beta of 0.89.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. As a group, research analysts forecast that Pinterest, Inc. will post 0.65 EPS for the current fiscal year.

Insider Activity at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 27,337 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $20.46, for a total transaction of $559,315.02. Following the sale, the insider owned 724,673 shares in the company, valued at $14,826,809.58. This represents a 3.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $22.63, for a total value of $1,060,781.25. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 323,845 shares of company stock valued at $6,836,065 over the last ninety days. Company insiders own 8.09% of the company’s stock.

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.