Natixis Advisors LLC Decreases Stake in Pinterest, Inc. (NYSE:PINS)

Key Points

• Natixis Advisors LLC reduced its holdings in Pinterest by 37.3%, selling 46,543 shares and now owning 78,256 shares worth approximately $2.43 million.
• Insider Benjamin Silbermann sold 408,332 shares of Pinterest, representing a 98.49% decrease in his ownership, while corporate insiders have sold a total of 1,502,611 shares recently.
• JPMorgan Chase upgraded Pinterest from a "neutral" to an "overweight" rating with a target price increase to $40.00, reflecting a generally positive outlook from Wall Street analysts.

Natixis Advisors LLC lessened its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 37.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,256 shares of the company's stock after selling 46,543 shares during the quarter. Natixis Advisors LLC's holdings in Pinterest were worth $2,426,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC purchased a new position in Pinterest in the 1st quarter worth approximately $25,000. Garde Capital Inc. purchased a new position in Pinterest in the 1st quarter worth approximately $26,000. NBC Securities Inc. increased its stake in 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 purchasing an additional 999 shares during the period. American National Bank & Trust purchased a new position in Pinterest in the 1st quarter worth approximately $32,000. Finally, Golden State Wealth Management LLC increased its stake in Pinterest by 665.4% in 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 period. Institutional investors own 88.81% of the company's stock.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,510 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $35.68, for a total transaction of $410,676.80. Following the completion of the sale, the insider owned 390,230 shares of the company's stock, valued at $13,923,406.40. This trade represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 29,606 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the sale, the chief financial officer directly owned 362,890 shares of the company's stock, valued at $12,428,982.50. This trade represents a 7.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,502,611 shares of company stock valued at $51,602,943 over the last ninety days. Corporate insiders own 7.11% of the company's stock.

Pinterest Stock Up 1.8%

Shares of PINS stock traded up $0.62 during trading hours on Tuesday, hitting $34.81. 4,986,928 shares of the company's stock traded hands, compared to its average volume of 11,917,956. The stock's fifty day simple moving average is $36.06 and its two-hundred day simple moving average is $33.14. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90. The stock has a market cap of $23.61 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.76 and a beta of 0.78.

Pinterest (NYSE:PINS - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The business had revenue of $998.23 million for the quarter, compared to analysts' expectations of $973.42 million. During the same quarter in the previous year, the business posted $0.29 earnings per share. Pinterest's revenue for the quarter was up 16.9% on a year-over-year basis. On average, equities analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on PINS shares. Bank of America increased their target price on shares of Pinterest from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Friday. Sanford C. Bernstein increased their target price on shares of Pinterest from $40.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Monness Crespi & Hardt increased their target price on shares of Pinterest from $40.00 to $46.00 and gave the stock a "buy" rating in a report on Friday. Barclays increased their target price on shares of Pinterest from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, Citigroup reiterated a "buy" rating and set a $50.00 target price (up from $44.00) on shares of Pinterest in a report on Friday. Five investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $42.40.

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.