Cwm LLC Has $5.50 Million Position in Pinterest, Inc. $PINS

Cwm LLC reduced its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 12.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 153,472 shares of the company's stock after selling 22,183 shares during the period. Cwm LLC's holdings in Pinterest were worth $5,503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PINS. TD Private Client Wealth LLC grew its position in Pinterest by 16.5% during the 2nd quarter. TD Private Client Wealth LLC now owns 2,623 shares of the company's stock worth $94,000 after acquiring an additional 371 shares during the last quarter. Riverpark Capital Management LLC grew its position in Pinterest by 1.2% during the 1st quarter. Riverpark Capital Management LLC now owns 31,825 shares of the company's stock worth $987,000 after acquiring an additional 377 shares during the last quarter. Optas LLC grew its position in Pinterest by 1.9% during the 2nd quarter. Optas LLC now owns 23,315 shares of the company's stock worth $836,000 after acquiring an additional 442 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Pinterest by 18.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock worth $96,000 after acquiring an additional 476 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. grew its position in Pinterest by 1.4% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 35,941 shares of the company's stock worth $1,289,000 after acquiring an additional 485 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 22,821 shares of the business's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the transaction, the chief financial officer directly owned 312,422 shares of the company's stock, valued at $10,887,906.70. The trade was a 6.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Matthew Madrigal sold 20,000 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $38.58, for a total value of $771,600.00. Following the completion of the transaction, the chief technology officer directly owned 428,823 shares in the company, valued at $16,543,991.34. This represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 762,319 shares of company stock valued at $27,523,976 over the last 90 days. 7.06% of the stock is owned by company insiders.

Pinterest Price Performance

Shares of NYSE:PINS opened at $33.33 on Thursday. The company has a market capitalization of $22.66 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.39 and a beta of 0.81. The business's 50-day moving average is $34.89 and its 200-day moving average is $33.12. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. The company had revenue of $665.93 million for the quarter. Pinterest had a return on equity of 8.44% and a net margin of 49.31%. Analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on PINS. Wall Street Zen lowered Pinterest from a "buy" rating to a "hold" rating in a research report on Saturday, October 4th. Barclays boosted their price objective on Pinterest from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Mizuho initiated coverage on Pinterest in a research report on Monday, September 29th. They set an "outperform" rating and a $50.00 price objective on the stock. Piper Sandler set a $40.00 price target on Pinterest in a research report on Friday, August 8th. Finally, KeyCorp upped their price target on Pinterest from $40.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $42.67.

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.

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