Focused Wealth Management Inc Cuts Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Focused Wealth Management Inc cut its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 31.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,284 shares of the company's stock after selling 8,700 shares during the period. Focused Wealth Management Inc's holdings in Pinterest were worth $598,000 as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In related news, insider Wanjiku Juanita Walcott sold 11,510 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $35.68, for a total value of $410,676.80. Following the sale, the insider directly owned 390,230 shares in the company, valued at approximately $13,923,406.40. The trade was a 2.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $35.50, for a total value of $3,623,946.50. Following the completion of the sale, the director owned 8,414 shares in the company, valued at $298,697. This represents a 92.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,278,445 shares of company stock valued at $43,269,922. 7.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. BMO Capital Markets dropped their target price on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Piper Sandler dropped their target price on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company set a $42.00 target price on shares of Pinterest and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Wolfe Research raised shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price for the company in a report on Thursday, May 15th. Finally, Wedbush reissued an "outperform" rating and issued a $40.00 target price (up previously from $38.00) on shares of Pinterest in a report on Friday, May 9th. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $40.52.

Pinterest Price Performance

Shares of NYSE PINS traded down $0.35 during mid-day trading on Friday, reaching $35.45. 4,121,036 shares of the company's stock were exchanged, compared to its average volume of 11,068,333. The firm has a market capitalization of $24.04 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.77 and a beta of 0.94. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $42.20. The firm has a 50-day moving average price of $33.27 and a two-hundred day moving average price of $32.12.

Pinterest (NYSE:PINS - Get Free Report) last released its 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 the consensus estimate of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 earnings per share. As a group, sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.