Bellwether Advisors LLC Sells 28,278 Shares of Pinterest, Inc. (NYSE:PINS)

Key Points

• Bellwether Advisors LLC has significantly reduced its stake in Pinterest, Inc. by 96%, holding only 1,174 shares after selling 28,278 shares in the first quarter, with their total holdings valued at $36,000.
• Pinterest's quarterly earnings report revealed a missed earnings estimate of $0.23 EPS, down from the expected $0.25, although revenue grew 15.5% year-over-year, reaching $854.99 million.
• Analysts have mixed ratings for Pinterest, with target prices ranging from $35.00 to $45.00, and an overall consensus rating of "Moderate Buy" with an average target price of $41.81.

Bellwether Advisors LLC cut its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 96.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,174 shares of the company's stock after selling 28,278 shares during the quarter. Bellwether Advisors LLC's holdings in Pinterest were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bartlett & CO. Wealth Management LLC bought a new position in Pinterest during the first quarter valued at about $25,000. Garde Capital Inc. acquired a new stake in Pinterest in the 1st quarter worth approximately $26,000. NBC Securities Inc. lifted its holdings in Pinterest by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock worth $31,000 after purchasing an additional 999 shares during the last quarter. American National Bank & Trust bought a new position in shares of Pinterest in the first quarter valued at approximately $32,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Pinterest by 665.4% in the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock worth $38,000 after buying an additional 1,058 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Stock Performance

Shares of Pinterest stock traded up $0.37 on Thursday, hitting $38.67. The stock had a trading volume of 9,160,920 shares, compared to its average volume of 11,650,701. The stock has a 50 day moving average of $35.02 and a 200 day moving average of $32.75. The firm has a market capitalization of $26.22 billion, a P/E ratio of 14.10, a PEG ratio of 1.92 and a beta of 0.94. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). The business had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. Pinterest's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 EPS. Equities analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,510 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $35.68, for a total transaction of $410,676.80. Following the completion of the sale, the insider owned 390,230 shares of the company's stock, valued at approximately $13,923,406.40. This represents a 2.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 29,606 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the completion of the transaction, the chief financial officer owned 362,890 shares in the company, valued at $12,428,982.50. This trade represents a 7.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,502,611 shares of company stock valued at $51,602,943. Corporate insiders own 7.06% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PINS. UBS Group raised their price target on Pinterest from $44.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Morgan Stanley raised Pinterest from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $37.00 to $45.00 in a report on Monday, July 21st. Piper Sandler dropped their price objective on Pinterest from $41.00 to $34.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. upgraded Pinterest from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $35.00 to $40.00 in a report on Tuesday, June 3rd. Finally, Wolfe Research upgraded shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 price target for the company in a research note on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. Based on data from MarketBeat, Pinterest has an average rating of "Moderate Buy" and an average price target of $41.81.

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.