Burney Co. Cuts Stock Holdings in Pinterest, Inc. $PINS

Key Points

• Burney Co. sharply reduced its Pinterest stake in Q1, cutting holdings by 80.5% and selling 74,357 shares. The firm ended the period with 18,064 shares worth about $331,000.
• Pinterest reported a strong quarterly result, with EPS of $0.27 versus estimates of $0.22 and revenue of $1.01 billion, up 17.8% year over year. The company also beat revenue expectations.
• Shares of Pinterest were trading around $22.53, while analysts currently have a consensus Hold rating with an average price target of $27.42. Recent insider sales and heavy institutional ownership were also noted in the filing.

Burney Co. lowered its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 80.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,064 shares of the company's stock after selling 74,357 shares during the period. Burney Co.'s holdings in Pinterest were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Revolve Wealth Partners LLC acquired a new position in Pinterest during the 4th quarter worth approximately $252,000. Integrated Wealth Concepts LLC raised its stake in shares of Pinterest by 5.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company's stock worth $339,000 after buying an additional 607 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Pinterest by 45.6% in the 1st quarter. Empowered Funds LLC now owns 15,168 shares of the company's stock valued at $470,000 after buying an additional 4,748 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Pinterest by 39.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company's stock valued at $335,000 after buying an additional 2,649 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of Pinterest in the second quarter valued at approximately $696,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Pinterest Price Performance

Shares of NYSE:PINS opened at $22.53 on Friday. The business's 50 day simple moving average is $20.76 and its 200-day simple moving average is $20.91. The firm has a market capitalization of $12.62 billion, a price-to-earnings ratio of 46.94, a price-to-earnings-growth ratio of 1.28 and a beta of 0.89. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. Pinterest, Inc. has a 12 month low of $13.84 and a 12 month high of $39.93.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $965.84 million. During the same quarter in the prior year, the firm posted $0.23 EPS. The company's revenue was up 17.8% compared to the same quarter last year. As a group, equities analysts forecast that Pinterest, Inc. will post 0.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of the company's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total value of $42,000.00. Following the sale, the director owned 27,450 shares of the company's stock, valued at approximately $549,000. This represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 14,208 shares of the firm's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $19.65, for a total value of $279,187.20. Following the completion of the transaction, the insider owned 691,840 shares of the company's stock, valued at approximately $13,594,656. This represents a 2.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 325,945 shares of company stock worth $6,878,065. 8.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PINS shares. Barclays upped their price objective on Pinterest from $25.00 to $27.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 5th. Piper Sandler reissued a "neutral" rating and issued a $26.00 target price (up from $21.00) on shares of Pinterest in a report on Tuesday, May 5th. Mizuho boosted their target price on shares of Pinterest from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Stifel Nicolaus boosted their target price on shares of Pinterest from $25.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Finally, Evercore set a $27.00 price target on shares of Pinterest in a research note on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Pinterest has a consensus rating of "Hold" and an average target price of $27.42.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate "Pins" — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company's primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.

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