Raymond James & Associates Sells 8,278 Shares of Pinterest, Inc. (NYSE:PINS)

Raymond James & Associates decreased its position in shares of Pinterest, Inc. (NYSE:PINS) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 780,175 shares of the company’s stock after selling 8,278 shares during the period. Raymond James & Associates owned approximately 0.11% of Pinterest worth $25,254,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PINS. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Pinterest by 13.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock worth $15,598,000 after acquiring an additional 51,455 shares during the last quarter. Deltec Asset Management LLC purchased a new stake in Pinterest in the first quarter worth $6,449,000. Russell Investments Group Ltd. lifted its position in shares of Pinterest by 38.0% during the first quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock worth $21,358,000 after purchasing an additional 169,052 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in shares of Pinterest during the second quarter valued at $5,045,000. Finally, Quantbot Technologies LP grew its holdings in shares of Pinterest by 217.8% in the second quarter. Quantbot Technologies LP now owns 118,749 shares of the company’s stock worth $5,233,000 after purchasing an additional 81,380 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

PINS has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price objective for the company. Wedbush dropped their price objective on Pinterest from $46.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Raymond James decreased their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. UBS Group dropped their price target on Pinterest from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Piper Sandler restated an “overweight” rating and issued a $45.00 price objective on shares of Pinterest in a report on Friday, September 13th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.32.

Pinterest Stock Up 1.0 %

Shares of Pinterest stock opened at $31.84 on Friday. The company has a 50 day moving average price of $31.70 and a 200 day moving average price of $36.41. The firm has a market capitalization of $21.75 billion, a P/E ratio of 151.62, a PEG ratio of 2.46 and a beta of 1.01. Pinterest, Inc. has a 52 week low of $23.59 and a 52 week high of $45.19.

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

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the sale, the director now owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by insiders.

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.