Creative Planning trimmed its position in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 11.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,621 shares of the company’s stock after selling 5,939 shares during the period. Creative Planning’s holdings in Pinterest were worth $1,302,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the company. Cohanzick Management LLC bought a new position in Pinterest during the first quarter worth $25,000. BOKF NA bought a new position in Pinterest during the first quarter worth $28,000. Private Trust Co. NA boosted its position in Pinterest by 315.3% during the first quarter. Private Trust Co. NA now owns 1,142 shares of the company’s stock worth $31,000 after purchasing an additional 867 shares during the period. Pinnacle Holdings LLC bought a new position in Pinterest during the first quarter worth $35,000. Finally, Stonebridge Capital Advisors LLC boosted its position in 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 during the period. 72.63% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Pinterest
In other news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $25.25, for a total transaction of $48,833.50. Following the completion of the sale, the director now owns 54,854 shares of the company’s stock, valued at approximately $1,385,063.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Jeffrey D. Jordan sold 2,500 shares of Pinterest stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $30.70, for a total value of $76,750.00. Following the completion of the sale, the director now owns 169,215 shares of the company’s stock, valued at approximately $5,194,900.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $25.25, for a total transaction of $48,833.50. Following the completion of the sale, the director now directly owns 54,854 shares of the company’s stock, valued at approximately $1,385,063.50. The disclosure for this sale can be found here. Insiders sold a total of 497,540 shares of company stock valued at $13,777,956 in the last quarter. 6.85% of the stock is currently owned by company insiders.
Pinterest Stock Down 4.0 %
Pinterest (NYSE:PINS – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.06. The company had revenue of $708.03 million during the quarter, compared to the consensus estimate of $698.28 million. Pinterest had a negative net margin of 10.14% and a negative return on equity of 4.59%. Analysts anticipate that Pinterest, Inc. will post 0.01 earnings per share for the current year.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on PINS shares. Evercore ISI raised shares of Pinterest from an “in-line” rating to an “outperform” rating and set a $41.00 target price for the company in a research report on Monday, July 17th. Morgan Stanley boosted their target price on shares of Pinterest from $21.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $30.00 target price on shares of Pinterest in a research report on Tuesday, August 22nd. Credit Suisse Group boosted their target price on shares of Pinterest from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Finally, Citigroup raised shares of Pinterest from a “neutral” rating to a “buy” rating and boosted their target price for the company from $31.00 to $36.00 in a research report on Wednesday, September 20th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.60.
Read Our Latest Analysis on PINS
About Pinterest
Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.
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