Pinterest, Inc. (NYSE:PINS) Shares Sold by Optimist Retirement Group LLC

Optimist Retirement Group LLC cut its stake in Pinterest, Inc. (NYSE:PINS) by 9.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,293 shares of the company’s stock after selling 566 shares during the period. Optimist Retirement Group LLC’s holdings in Pinterest were worth $233,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PINS. Norges Bank acquired a new position in shares of Pinterest during the fourth quarter valued at $241,229,000. Wellington Management Group LLP increased its holdings in shares of Pinterest by 1,188.9% during the fourth quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after purchasing an additional 5,524,796 shares during the period. Bank of New York Mellon Corp boosted its stake in Pinterest by 128.2% during the first quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock valued at $193,473,000 after buying an additional 3,134,776 shares in the last quarter. Contour Asset Management LLC boosted its stake in Pinterest by 79.5% during the fourth quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock valued at $169,242,000 after buying an additional 2,023,500 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Pinterest by 45.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock valued at $198,846,000 after buying an additional 1,798,494 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PINS shares. Robert W. Baird decreased their target price on Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Cantor Fitzgerald started coverage on Pinterest in a research note on Thursday, September 5th. They set an “overweight” rating and a $41.00 target price for the company. Piper Sandler reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pinterest in a research note on Friday, September 13th. Wells Fargo & Company decreased their price target on Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Pinterest Trading Up 1.8 %

Shares of PINS opened at $29.88 on Thursday. The company has a market capitalization of $20.41 billion, a PE ratio of 142.29, a PEG ratio of 3.27 and a beta of 1.00. Pinterest, Inc. has a 12 month low of $23.59 and a 12 month high of $45.19. The stock’s 50-day moving average price is $33.03 and its two-hundred day moving average price is $36.82.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm’s revenue was up 20.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) EPS. Equities research analysts predict that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 7.11% of the stock is owned by company insiders.

About Pinterest

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.