Diversify Advisory Services LLC Sells 45,001 Shares of Pinterest, Inc. (NYSE:PINS)

Diversify Advisory Services LLC reduced its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 68.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,105 shares of the company's stock after selling 45,001 shares during the period. Diversify Advisory Services LLC's holdings in Pinterest were worth $654,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC lifted its holdings in Pinterest by 88.3% in the first quarter. Jennison Associates LLC now owns 2,991,150 shares of the company's stock worth $92,726,000 after acquiring an additional 1,402,456 shares during the last quarter. Transce3nd LLC raised its holdings in Pinterest by 3,154.8% during the first quarter. Transce3nd LLC now owns 8,430 shares of the company's stock worth $261,000 after purchasing an additional 8,171 shares in the last quarter. Graypoint LLC raised its holdings in Pinterest by 16.8% during the first quarter. Graypoint LLC now owns 12,775 shares of the company's stock worth $396,000 after purchasing an additional 1,837 shares in the last quarter. Bridgewater Advisors Inc. bought a new stake in Pinterest during the first quarter worth approximately $325,000. Finally, Larson Financial Group LLC grew its position in Pinterest by 1,773.5% in the first quarter. Larson Financial Group LLC now owns 1,836 shares of the company's stock worth $57,000 after buying an additional 1,738 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PINS. Guggenheim lowered their price objective on shares of Pinterest from $40.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Wedbush upped their price objective on shares of Pinterest from $40.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday. KeyCorp boosted their target price on shares of Pinterest from $40.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday. JPMorgan Chase & Co. raised shares of Pinterest from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $35.00 to $40.00 in a research report on Tuesday, June 3rd. Finally, Piper Sandler cut their price objective on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Five analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.45.

Pinterest Price Performance

NYSE:PINS traded up $0.87 on Monday, hitting $37.98. 13,888,885 shares of the company's stock were exchanged, compared to its average volume of 11,098,075. The company has a market cap of $25.76 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 1.83 and a beta of 0.94. The firm has a 50-day moving average price of $34.13 and a 200-day moving average price of $32.39. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $42.02.

Pinterest (NYSE:PINS - Get Free Report) last announced 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 company had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The firm's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company posted $0.17 EPS. On average, research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 408,332 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total transaction of $13,540,289.12. Following the completion of the sale, the director owned 6,274 shares of the company's stock, valued at approximately $208,045.84. This represents a 98.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 1,381,678 shares of company stock worth $46,988,343 in the last quarter. 7.11% of the stock is currently owned by insiders.

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.