Quantbot Technologies LP cut its stake in Pinterest, Inc. (NYSE:PINS – Free Report) by 83.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,369 shares of the company’s stock after selling 187,335 shares during the period. Quantbot Technologies LP’s holdings in Pinterest were worth $1,296,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Capital Group California Inc. boosted its stake in shares of Pinterest by 1.7% during the 4th quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock worth $598,000 after buying an additional 267 shares during the last quarter. Venture Visionary Partners LLC boosted its stake in shares of Pinterest by 0.7% during the 4th quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock worth $1,816,000 after buying an additional 324 shares during the last quarter. Washington Trust Advisors Inc. boosted its stake in shares of Pinterest by 46.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after buying an additional 326 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its stake in shares of Pinterest by 0.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock worth $1,701,000 after buying an additional 348 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Pinterest by 40.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after buying an additional 378 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Pinterest
In related news, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total value of $168,795.50. Following the transaction, the chief accounting officer now directly owns 189,470 shares of the company’s stock, valued at $8,317,733. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total value of $168,795.50. Following the sale, the chief accounting officer now owns 189,470 shares in the company, valued at $8,317,733. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the completion of the sale, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. The disclosure for this sale can be found here. Insiders have sold 52,184 shares of company stock valued at $2,255,783 over the last three months. 7.11% of the stock is owned by insiders.
Pinterest Trading Down 2.0 %
Shares of PINS opened at $41.29 on Friday. The firm’s 50 day moving average is $42.74 and its 200-day moving average is $38.29. The stock has a market capitalization of $28.21 billion, a PE ratio of 196.63, a P/E/G ratio of 4.03 and a beta of 0.97. Pinterest, Inc. has a 12 month low of $23.59 and a 12 month high of $45.19.
Pinterest (NYSE:PINS – Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. The business had revenue of $739.98 million for the quarter, compared to analysts’ expectations of $699.96 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. Equities research analysts predict that Pinterest, Inc. will post 0.44 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. KeyCorp reduced their price objective on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Wells Fargo & Company increased their price objective on shares of Pinterest from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 25th. Wedbush increased their price objective on shares of Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Piper Sandler reiterated an “overweight” rating and issued a $52.00 target price on shares of Pinterest in a research note on Friday, June 14th. Finally, Stifel Nicolaus raised their target price on shares of Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.04.
Get Our Latest Stock Analysis on PINS
About Pinterest
(Free Report)
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.
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