Pinterest, Inc. (NYSE:PINS) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of Pinterest, Inc. (NYSE:PINS) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 81,156 shares of the company’s stock after selling 6,890 shares during the quarter. Truist Financial Corp’s holdings in Pinterest were worth $2,354,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its position in Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after acquiring an additional 313 shares during the period. Hantz Financial Services Inc. boosted its stake in Pinterest by 3.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after purchasing an additional 339 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Pinterest by 2.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock valued at $366,000 after purchasing an additional 342 shares in the last quarter. Commerce Bank boosted its stake in Pinterest by 3.3% during the 3rd quarter. Commerce Bank now owns 11,868 shares of the company’s stock valued at $384,000 after purchasing an additional 378 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Trading Up 0.9 %

Shares of NYSE:PINS opened at $36.93 on Thursday. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The business has a fifty day simple moving average of $33.16 and a 200 day simple moving average of $31.99. The firm has a market cap of $25.05 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 1.95 and a beta of 1.06.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

PINS has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price target on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. UBS Group decreased their price target on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Morgan Stanley increased their price target on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Roth Mkm decreased their price target on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Finally, Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and increased their price target for the company from $34.00 to $47.00 in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.47.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the transaction, the director now directly owns 29,086 shares in the company, valued at $1,139,880.34. This trade represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares in the company, valued at approximately $5,399,072.34. This trade represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,117 shares of company stock worth $253,056 over the last three months. Corporate insiders own 7.11% of the company’s stock.

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.