Focused Wealth Management Inc Trims Stake in Pinterest, Inc. (NYSE:PINS)

Focused Wealth Management Inc trimmed its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 31.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,284 shares of the company's stock after selling 8,700 shares during the quarter. Focused Wealth Management Inc's holdings in Pinterest were worth $598,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Janney Montgomery Scott LLC boosted its position in shares of Pinterest by 73.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 89,034 shares of the company's stock worth $2,760,000 after purchasing an additional 37,829 shares during the period. Sequoia Financial Advisors LLC purchased a new position in Pinterest during the first quarter worth approximately $235,000. Concurrent Investment Advisors LLC purchased a new position in shares of Pinterest in the 1st quarter valued at $261,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Pinterest by 21.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 112,201 shares of the company's stock worth $3,478,000 after purchasing an additional 19,552 shares during the last quarter. Finally, Revolve Wealth Partners LLC acquired a new position in shares of Pinterest in the 4th quarter valued at about $252,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Pinterest Trading Up 1.5%

NYSE:PINS traded up $0.54 during mid-day trading on Tuesday, hitting $36.52. 11,208,397 shares of the company's stock traded hands, compared to its average volume of 11,060,993. The firm has a 50 day moving average of $33.27 and a two-hundred day moving average of $32.15. The firm has a market capitalization of $24.77 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 1.75 and a beta of 0.94. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $42.20.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share 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 analyst estimates of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 earnings per share. As a group, equities research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Transactions at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $35.50, for a total transaction of $3,623,946.50. Following the completion of the transaction, the director directly owned 8,414 shares in the company, valued at $298,697. The trade was a 92.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Donnelly Julia Brau sold 29,606 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total value of $1,014,005.50. Following the completion of the sale, the chief financial officer owned 362,890 shares of the company's stock, valued at $12,428,982.50. The trade was a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,278,445 shares of company stock worth $43,269,922. Company insiders own 7.11% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group cut their target price on shares of Pinterest from $50.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Barclays cut their price target on shares of Pinterest from $42.00 to $38.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. 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 note on Tuesday, June 3rd. Wells Fargo & Company set a $42.00 price objective on shares of Pinterest and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, KeyCorp upped their price target on shares of Pinterest from $37.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Six research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.61.

About Pinterest

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.