Pinterest, Inc. (NYSE:PINS) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its stake in Pinterest, Inc. (NYSE:PINS) by 18.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,479 shares of the company’s stock after selling 9,445 shares during the quarter. Intech Investment Management LLC’s holdings in Pinterest were worth $1,403,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Pinterest during the 4th quarter worth about $27,000. Rakuten Securities Inc. acquired a new stake in shares of Pinterest during the 4th quarter worth about $30,000. Washington Trust Advisors Inc. increased its position in shares of Pinterest by 46.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares during the last quarter. Quent Capital LLC increased its position in shares of Pinterest by 71.2% during the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after purchasing an additional 460 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Pinterest during the 4th quarter worth about $43,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PINS shares. Wolfe Research started coverage on Pinterest in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Citigroup raised their target price on Pinterest from $48.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Benchmark restated a “hold” rating on shares of Pinterest in a report on Wednesday, May 1st. Wells Fargo & Company raised their target price on Pinterest from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, June 25th. Finally, The Goldman Sachs Group lifted their price objective on Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Nine research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.04.

Pinterest Price Performance

PINS traded down $0.18 during trading on Friday, reaching $40.78. 10,265,896 shares of the stock were exchanged, compared to its average volume of 6,325,802. The business’s 50 day moving average price is $42.61 and its two-hundred day moving average price is $38.42. The company has a market capitalization of $27.86 billion, a price-to-earnings ratio of 194.20, a P/E/G ratio of 3.98 and a beta of 0.97. Pinterest, Inc. has a 1 year low of $23.59 and a 1 year high of $45.19.

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

Insider Activity

In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total value of $81,711.50. Following the sale, the director now directly owns 29,712 shares in the company, valued at $1,255,332. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total value of $81,711.50. Following the completion of the transaction, the director now directly owns 29,712 shares in the company, valued at $1,255,332. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total value of $168,795.50. Following the completion of the transaction, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The disclosure for this sale can be found here. Insiders have sold 50,250 shares of company stock worth $2,191,304 over the last three months. 7.11% of the stock is currently owned by corporate insiders.

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.