Pinterest, Inc. (NYSE:PINS) Shares Sold by King Luther Capital Management Corp

Key Points

• King Luther Capital Management Corp reduced its holdings in Pinterest by 51.7%, owning 101,475 shares after selling 108,665 shares during the first quarter.
• Insider transactions revealed that Director Benjamin Silbermann sold 408,332 shares, reducing his stake by 98.49%, while insiders collectively sold over 1.5 million shares worth approximately $51.6 million in the last quarter.
• Recent analyst reports have seen increased price targets for Pinterest, with UBS Group raising their target from $44.00 to $50.00 and a consensus rating of "Moderate Buy" reported across multiple analysts.

King Luther Capital Management Corp trimmed its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 51.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 101,475 shares of the company's stock after selling 108,665 shares during the period. King Luther Capital Management Corp's holdings in Pinterest were worth $3,146,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Pinterest during the 1st quarter worth approximately $25,000. Garde Capital Inc. acquired a new position in shares of Pinterest during the 1st quarter worth approximately $26,000. NBC Securities Inc. boosted its holdings in shares of Pinterest by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock worth $31,000 after purchasing an additional 999 shares during the last quarter. American National Bank & Trust acquired a new position in shares of Pinterest during the 1st quarter worth approximately $32,000. Finally, Golden State Wealth Management LLC boosted its holdings 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 worth $38,000 after purchasing an additional 1,058 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Stock Performance

Shares of Pinterest stock traded down $0.50 during trading hours on Friday, reaching $35.85. 8,595,654 shares of the company were exchanged, compared to its average volume of 12,197,950. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90. The stock's fifty day moving average is $36.21 and its 200 day moving average is $33.21. The firm has a market cap of $24.31 billion, a PE ratio of 12.85, a PEG ratio of 1.79 and a beta of 0.78.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). Pinterest had a return on equity of 8.44% and a net margin of 49.31%. The company had revenue of $998.23 million for the quarter, compared to analysts' expectations of $973.42 million. During the same period in the prior year, the company posted $0.29 EPS. The firm's revenue was up 16.9% compared to the same quarter last year. Research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PINS shares. UBS Group boosted their target price on Pinterest from $44.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. TD Cowen upped their price objective on Pinterest from $40.00 to $43.00 and gave the company a "buy" rating in a report on Tuesday, July 15th. Morgan Stanley upgraded Pinterest from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $37.00 to $45.00 in a report on Monday, July 21st. Sanford C. Bernstein upped their price objective on Pinterest from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Finally, Cowen reiterated a "buy" rating on shares of Pinterest in a report on Friday, August 8th. Five equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $42.40.

Insider Buying and Selling at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $37.95, for a total transaction of $3,874,049.85. Following the sale, the director owned 8,414 shares of the company's stock, valued at approximately $319,311.30. This represents a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $36.88, for a total value of $42,412.00. Following the sale, the director directly owned 31,750 shares in the company, valued at $1,170,940. This represents a 3.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,094,279 shares of company stock valued at $38,062,654. Insiders own 7.06% of the company's stock.

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.