Pinterest, Inc. (NYSE:PINS) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC trimmed its holdings in Pinterest, Inc. (NYSE:PINS) by 38.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,717 shares of the company’s stock after selling 5,539 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Pinterest were worth $253,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PINS. Atria Investments Inc boosted its holdings in Pinterest by 4.0% in the third quarter. Atria Investments Inc now owns 26,686 shares of the company’s stock valued at $864,000 after purchasing an additional 1,034 shares in the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of Pinterest by 9.5% in the third quarter. Axxcess Wealth Management LLC now owns 6,965 shares of the company’s stock valued at $225,000 after acquiring an additional 605 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Pinterest by 45.6% in the third quarter. Victory Capital Management Inc. now owns 414,285 shares of the company’s stock valued at $13,410,000 after acquiring an additional 129,676 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Pinterest by 6.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 46,783 shares of the company’s stock valued at $1,514,000 after acquiring an additional 2,997 shares during the period. Finally, Plato Investment Management Ltd boosted its holdings in shares of Pinterest by 79.8% in the third quarter. Plato Investment Management Ltd now owns 26,833 shares of the company’s stock valued at $868,000 after acquiring an additional 11,912 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Stock Performance

NYSE:PINS opened at $31.92 on Friday. The stock has a fifty day moving average price of $34.34 and a two-hundred day moving average price of $32.27. The stock has a market capitalization of $21.65 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PINS shares. Royal Bank of Canada increased their price objective on Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $34.00 to $47.00 in a report on Friday, February 7th. Piper Sandler reissued a “neutral” rating and issued a $41.00 price objective (up from $36.00) on shares of Pinterest in a report on Friday, February 7th. Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday, January 10th. Finally, Barclays upped their price target on Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and an average target price of $43.47.

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total value of $35,627.00. Following the completion of the transaction, the director now owns 31,386 shares in the company, valued at $972,338.28. This trade represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeremy S. Levine sold 50,535 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $33.98, for a total value of $1,717,179.30. Following the completion of the transaction, the director now owns 1,156,693 shares of the company’s stock, valued at approximately $39,304,428.14. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,879 shares of company stock worth $3,653,577 over the last 90 days. 7.11% of the stock is currently owned by corporate insiders.

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.