Graphene Investments SAS Sells 10,300 Shares of Pinterest, Inc. (NYSE:PINS)

Graphene Investments SAS lowered its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,500 shares of the company's stock after selling 10,300 shares during the quarter. Graphene Investments SAS's holdings in Pinterest were worth $2,588,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PINS. Garde Capital Inc. purchased a new position in shares of Pinterest in the first quarter valued at $26,000. Whipplewood Advisors LLC bought a new position in Pinterest during the fourth quarter valued at $28,000. NBC Securities Inc. grew its stake in shares of Pinterest by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock worth $31,000 after buying an additional 999 shares in the last quarter. American National Bank & Trust bought a new stake in shares of Pinterest in the 1st quarter worth about $32,000. Finally, Golden State Wealth Management LLC raised its position in shares of Pinterest by 665.4% during the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock valued at $38,000 after buying an additional 1,058 shares in the last quarter. Institutional investors own 88.81% of the company's stock.

Insider Activity at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the completion of the sale, the director now directly owns 6,274 shares of the company's stock, valued at approximately $196,187.98. This represents a 94.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Andrea Acosta sold 3,759 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $31.86, for a total transaction of $119,761.74. Following the completion of the sale, the chief accounting officer now owns 171,373 shares in the company, valued at $5,459,943.78. This represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,164,852 shares of company stock valued at $38,812,675 over the last ninety days. 7.06% of the stock is owned by company insiders.

Pinterest Trading Down 0.6%

Shares of Pinterest stock opened at $35.13 on Friday. The stock's fifty day moving average price is $30.84 and its 200-day moving average price is $31.70. The firm has a market cap of $23.83 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.74 and a beta of 0.91. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $44.79.

Pinterest (NYSE:PINS - Get Free Report) last posted 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). Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The business had revenue of $854.99 million for the quarter, compared to analysts' expectations of $848.49 million. During the same period last year, the business posted $0.17 EPS. The company's revenue for the quarter was up 15.5% on a year-over-year basis. Analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. JPMorgan Chase & Co. upgraded Pinterest from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $35.00 to $40.00 in a research report on Tuesday, June 3rd. Bank of America dropped their target price on Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Raymond James Financial downgraded Pinterest from an "overweight" rating to a "market perform" rating in a research report on Monday, April 7th. Oppenheimer raised their price target on Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Finally, BMO Capital Markets dropped their price objective on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of "Moderate Buy" and an average price target of $40.52.

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.

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