Creative Planning Has $1.50 Million Holdings in Pinterest, Inc. (NYSE:PINS)

Creative Planning lowered its stake in shares of Pinterest, Inc. (NYSE:PINS) by 4.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 46,839 shares of the company’s stock after selling 2,115 shares during the period. Creative Planning’s holdings in Pinterest were worth $1,503,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PINS. Mitsubishi UFJ Trust & Banking Corp boosted its position 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 valued at $15,598,000 after buying an additional 51,455 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Pinterest by 38.0% during the 1st quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock worth $21,358,000 after acquiring an additional 169,052 shares during the last quarter. Artemis Investment Management LLP bought a new stake in shares of Pinterest in the 2nd quarter worth $5,045,000. Quantbot Technologies LP raised 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 valued at $5,233,000 after purchasing an additional 81,380 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of Pinterest by 4.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 688,071 shares of the company’s stock valued at $23,855,000 after purchasing an additional 28,261 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PINS has been the subject of several analyst reports. Robert W. Baird decreased their price objective on shares of Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Stifel Nicolaus dropped their price target on Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company cut their price objective on Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 target price on shares of Pinterest in a research report on Thursday, September 12th. Finally, Oppenheimer assumed coverage on shares of Pinterest in a report on Tuesday, September 24th. They issued an “outperform” rating and a $45.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.32.

Pinterest Price Performance

NYSE PINS opened at $32.42 on Wednesday. The company’s 50 day simple moving average is $31.73 and its two-hundred day simple moving average is $36.40. Pinterest, Inc. has a 1 year low of $24.47 and a 1 year high of $45.19. The stock has a market capitalization of $22.15 billion, a PE ratio of 154.38, a P/E/G ratio of 2.50 and a beta of 1.01.

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, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The company had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. During the same quarter last year, the business posted ($0.04) earnings per share. The firm’s revenue was up 20.6% compared to the same quarter last year. On average, research analysts anticipate that Pinterest, Inc. will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The stock was 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 owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the company’s 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 transaction, the director now owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

Pinterest 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.