Pinterest, Inc. (NYSE:PINS) Shares Sold by D.A. Davidson & CO.

Posted by Defense World Staff on Apr 28th, 2023

D.A. Davidson & CO. cut its holdings in shares of Pinterest, Inc. (NYSE:PINS – Get Rating) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,836 shares of the company’s stock after selling 1,239 shares during the period. D.A. Davidson & CO.’s holdings in Pinterest were worth $1,137,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PINS. Cohanzick Management LLC acquired a new stake in shares of Pinterest during the 1st quarter worth about $25,000. Manchester Capital Management LLC grew its holdings in shares of Pinterest by 2,668.9% during the third quarter. Manchester Capital Management LLC now owns 1,246 shares of the company’s stock worth $29,000 after purchasing an additional 1,201 shares during the last quarter. Stonebridge Capital Advisors LLC increased its position in shares of Pinterest by 5,138.9% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,886 shares of the company’s stock worth $46,000 after purchasing an additional 1,850 shares in the last quarter. Allworth Financial LP boosted its position in shares of Pinterest by 69.7% in the 3rd quarter. Allworth Financial LP now owns 2,359 shares of the company’s stock valued at $55,000 after purchasing an additional 969 shares during the period. Finally, Clearstead Trust LLC purchased a new stake in Pinterest in the fourth quarter valued at approximately $62,000. Hedge funds and other institutional investors own 71.95% of the company’s stock.

Insider Buying and Selling

In other Pinterest news, CFO Todd R. Morgenfeld sold 60,537 shares of Pinterest stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $28.32, for a total value of $1,714,407.84. Following the completion of the transaction, the chief financial officer now directly owns 512,820 shares in the company, valued at $14,523,062.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Todd R. Morgenfeld sold 60,537 shares of the company’s stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $28.32, for a total transaction of $1,714,407.84. Following the completion of the transaction, the chief financial officer now owns 512,820 shares in the company, valued at $14,523,062.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey D. Jordan sold 7,500 shares of the stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $27.87, for a total transaction of $209,025.00. Following the completion of the sale, the director now directly owns 191,715 shares in the company, valued at approximately $5,343,097.05. The disclosure for this sale can be found here. Insiders have sold a total of 79,222 shares of company stock worth $2,236,054 over the last quarter. 7.58% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PINS. Piper Sandler boosted their target price on Pinterest from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, February 7th. Roth Capital restated a “neutral” rating on shares of Pinterest in a research report on Tuesday, February 7th. Sanford C. Bernstein boosted their target price on Pinterest from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Thursday, April 20th. KeyCorp increased their price objective on Pinterest from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 7th. Finally, DA Davidson reduced their price objective on shares of Pinterest from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Wednesday, March 29th. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Pinterest has a consensus rating of “Hold” and an average target price of $28.70.

Pinterest Trading Up 2.5 %

Shares of PINS opened at $27.27 on Friday. Pinterest, Inc. has a 52 week low of $16.14 and a 52 week high of $29.27. The stock has a 50 day moving average of $26.64 and a 200-day moving average of $25.27.

Pinterest (NYSE:PINS – Get Rating) last released its quarterly earnings data on Monday, February 6th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a negative net margin of 3.43% and a negative return on equity of 2.25%. The firm had revenue of $877.21 million during the quarter, compared to the consensus estimate of $886.78 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Analysts expect that Pinterest, Inc. will post -0.01 earnings per share for the current fiscal year.

Pinterest Profile

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Pinterest, Inc engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. The company was founded by Benjamin Silbermann, Paul C. Sciarra, and Evan Sharp in October 2008 and is headquartered in San Francisco, CA.

Pinterest, Inc. (NYSE:PINS) Shares Sold by D.A. Davidson & CO.

Insider Buying and Selling

Wall Street Analysts Forecast Growth

Pinterest Trading Up 2.5 %

Pinterest Profile

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