Calamos Advisors LLC Sells 126,005 Shares of Pinterest, Inc. (NYSE:PINS)

Calamos Advisors LLC trimmed its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 44.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 160,500 shares of the company's stock after selling 126,005 shares during the period. Calamos Advisors LLC's holdings in Pinterest were worth $4,976,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new position in shares of Pinterest in the 4th quarter worth about $252,000. US Bancorp DE lifted its holdings in shares of Pinterest by 27.2% in the fourth quarter. US Bancorp DE now owns 23,698 shares of the company's stock worth $687,000 after buying an additional 5,063 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Pinterest by 20.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,564 shares of the company's stock worth $75,000 after buying an additional 429 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Pinterest by 91.3% in the fourth quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company's stock worth $725,000 after purchasing an additional 11,925 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Pinterest by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,307,408 shares of the company's stock worth $124,915,000 after purchasing an additional 54,412 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on PINS. Bank of America reduced their price target on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. TD Cowen cut their price target on shares of Pinterest from $46.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. upgraded shares of Pinterest from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $35.00 to $40.00 in a report on Tuesday, June 3rd. BMO Capital Markets cut their price target on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Finally, Wedbush reiterated an "outperform" rating and issued a $40.00 price target (up previously from $38.00) on shares of Pinterest in a report on Friday, May 9th. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.52.

Insider Buying and Selling

In related news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $35.41, for a total value of $3,614,759.03. Following the completion of the sale, the director directly owned 8,414 shares in the company, valued at approximately $297,939.74. This trade represents a 92.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Andrea Acosta sold 3,759 shares of Pinterest stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $31.86, for a total value of $119,761.74. Following the completion of the sale, the chief accounting officer owned 171,373 shares of the company's stock, valued at $5,459,943.78. The trade was a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,176,362 shares of company stock worth $39,645,976 in the last three months. 7.11% of the stock is currently owned by company insiders.

Pinterest Stock Performance

Shares of PINS traded up $0.14 during trading hours on Tuesday, hitting $35.81. The company had a trading volume of 6,710,620 shares, compared to its average volume of 11,074,072. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $44.06. The firm has a fifty day moving average price of $32.68 and a 200-day moving average price of $32.01. The stock has a market capitalization of $24.29 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 1.76 and a beta of 0.94.

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

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.