OVERSEA CHINESE BANKING Corp Ltd Sells 8,588 Shares of Pinterest, Inc. (NYSE:PINS)

OVERSEA CHINESE BANKING Corp Ltd reduced its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 52.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,777 shares of the company's stock after selling 8,588 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Pinterest were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in shares of Pinterest by 73.9% during the first quarter. Janney Montgomery Scott LLC now owns 89,034 shares of the company's stock worth $2,760,000 after acquiring an additional 37,829 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Pinterest during the first quarter worth $235,000. Concurrent Investment Advisors LLC bought a new position in shares of Pinterest during the first quarter worth $261,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Pinterest by 21.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 112,201 shares of the company's stock worth $3,478,000 after acquiring an additional 19,552 shares during the last quarter. Finally, Revolve Wealth Partners LLC bought a new position in shares of Pinterest during the fourth quarter worth $252,000. 88.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pinterest

In other news, Director Jeremy S. Levine sold 6,274 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $34.11, for a total value of $214,006.14. Following the completion of the sale, the director owned 1,158,833 shares in the company, valued at approximately $39,527,793.63. The trade was a 0.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $3,623,946.50. Following the completion of the sale, the director owned 8,414 shares of the company's stock, valued at approximately $298,697. This represents a 92.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,278,445 shares of company stock worth $43,269,922. 7.06% of the stock is owned by company insiders.

Pinterest Stock Up 3.2%

PINS stock traded up $1.16 during trading on Friday, hitting $37.24. The company had a trading volume of 11,509,670 shares, compared to its average volume of 11,078,150. The firm has a market capitalization of $25.26 billion, a P/E ratio of 13.59, a PEG ratio of 1.78 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 company has a 50 day simple moving average of $33.97 and a 200-day simple moving average of $32.30.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The company's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. Sell-side analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PINS shares. Wedbush upped their target price on shares of Pinterest from $40.00 to $42.00 and gave the stock an "outperform" rating in a research report on Thursday. TD Cowen upped their target price on shares of Pinterest from $40.00 to $43.00 and gave the stock a "buy" rating in a research report on Tuesday. BMO Capital Markets decreased their price target on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Wells Fargo & Company set a $42.00 price target on shares of Pinterest and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. raised shares of Pinterest from a "neutral" rating to an "overweight" rating and upped their price target for the company from $35.00 to $40.00 in a research note on Tuesday, June 3rd. Six equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, Pinterest has a consensus rating of "Moderate Buy" and a consensus price target of $41.19.

Pinterest 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.