Ieq Capital LLC Reduces Stock Position in Pinterest, Inc. (NYSE:PINS)

Ieq Capital LLC decreased its position in shares of Pinterest, Inc. (NYSE:PINS) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,236 shares of the company’s stock after selling 27,938 shares during the quarter. Ieq Capital LLC’s holdings in Pinterest were worth $13,760,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in Pinterest by 1,188.9% in the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after acquiring an additional 5,524,796 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Pinterest by 128.2% in 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 purchasing an additional 3,134,776 shares during the last quarter. Contour Asset Management LLC increased its stake in shares of Pinterest by 79.5% during the 4th quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock worth $169,242,000 after purchasing an additional 2,023,500 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Pinterest by 45.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock worth $198,846,000 after purchasing an additional 1,798,494 shares during the last quarter. Finally, Ninety One UK Ltd raised its position in shares of Pinterest by 44.6% during the 2nd quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock worth $239,991,000 after purchasing an additional 1,679,348 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.11% of the stock is currently owned by company insiders.

Pinterest Trading Up 2.1 %

NYSE:PINS opened at $30.53 on Friday. The firm’s fifty day simple moving average is $32.80 and its 200 day simple moving average is $36.77. Pinterest, Inc. has a twelve month low of $23.59 and a twelve month high of $45.19. The firm has a market capitalization of $20.86 billion, a price-to-earnings ratio of 145.38, a PEG ratio of 3.27 and a beta of 1.00.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Piper Sandler reiterated an “overweight” rating and set a $45.00 target price on shares of Pinterest in a report on Friday, September 13th. Robert W. Baird decreased their price objective on Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Wolfe Research started coverage on shares of Pinterest in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Morgan Stanley raised their price target on shares of Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company cut their price objective on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Pinterest Company Profile

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.