Mezzasalma Advisors LLC Trims Holdings in Pinterest, Inc. (NYSE:PINS)

Mezzasalma Advisors LLC decreased its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 32.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,980 shares of the company’s stock after selling 10,770 shares during the period. Mezzasalma Advisors LLC’s holdings in Pinterest were worth $762,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. GAMMA Investing LLC bought a new position in Pinterest in the fourth quarter worth about $27,000. Rakuten Securities Inc. purchased a new position in shares of Pinterest during the 4th quarter worth approximately $30,000. Washington Trust Advisors Inc. raised its position in shares of Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after acquiring an additional 326 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Pinterest in the 4th quarter valued at approximately $43,000. Finally, Blue Trust Inc. boosted its position in shares of Pinterest by 87.7% during the fourth quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock valued at $44,000 after purchasing an additional 557 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PINS shares. Citigroup increased their price objective on Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Wells Fargo & Company boosted their price objective on shares of Pinterest from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 25th. Piper Sandler reaffirmed an “overweight” rating and set a $52.00 target price on shares of Pinterest in a research note on Friday, June 14th. Finally, Royal Bank of Canada boosted their price target on Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.37.

Pinterest Trading Down 0.3 %

PINS stock traded down $0.14 on Thursday, hitting $43.12. The company had a trading volume of 3,091,516 shares, compared to its average volume of 6,884,937. The stock has a market cap of $29.46 billion, a price-to-earnings ratio of 205.34, a P/E/G ratio of 4.24 and a beta of 0.97. The stock’s 50-day simple moving average is $42.06 and its 200 day simple moving average is $38.07. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The firm had revenue of $739.98 million for the quarter, compared to the consensus estimate of $699.96 million. Research analysts forecast that Pinterest, Inc. will post 0.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the sale, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of Pinterest stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the transaction, the insider now directly owns 307,256 shares in the company, valued at $12,726,543.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the sale, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,184 shares of company stock valued at $2,255,783. 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.