Brighton Jones LLC Sells 1,847 Shares of Pinterest, Inc. (NYSE:PINS)

Brighton Jones LLC decreased its position in shares of Pinterest, Inc. (NYSE:PINS) by 13.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,051 shares of the company’s stock after selling 1,847 shares during the quarter. Brighton Jones LLC’s holdings in Pinterest were worth $531,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Corient Private Wealth LLC boosted its holdings in Pinterest by 56.7% in the fourth quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock valued at $3,570,000 after acquiring an additional 34,876 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Pinterest by 13.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock worth $15,598,000 after purchasing an additional 51,455 shares during the period. Contrarius Investment Management Ltd lifted its stake in Pinterest by 300.0% in the fourth quarter. Contrarius Investment Management Ltd now owns 1,722,412 shares of the company’s stock valued at $63,798,000 after buying an additional 1,291,854 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in Pinterest by 10.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 231,822 shares of the company’s stock worth $8,586,000 after buying an additional 22,101 shares during the last quarter. Finally, Deltec Asset Management LLC acquired a new position in shares of Pinterest during the 1st quarter worth about $6,449,000. 88.81% of the stock is currently owned by institutional investors.

Pinterest Price Performance

Shares of PINS stock opened at $30.38 on Friday. The stock has a market cap of $20.85 billion, a P/E ratio of 144.67, a P/E/G ratio of 3.22 and a beta of 1.00. The company has a fifty day moving average price of $32.58 and a two-hundred day moving average price of $36.73. Pinterest, Inc. has a one year low of $23.59 and a one year high of $45.19.

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

Analyst Ratings Changes

A number of analysts recently weighed in on PINS shares. Evercore ISI cut their price target on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. The Goldman Sachs Group increased their target price on shares of Pinterest from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 price target on shares of Pinterest in a report on Thursday, September 12th. Wolfe Research began coverage on Pinterest in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, KeyCorp lowered their price objective on shares of Pinterest from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.78.

Insider Transactions at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.11% of the stock is currently owned by corporate 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.