Harel Insurance Investments & Financial Services Ltd. Reduces Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Harel Insurance Investments & Financial Services Ltd. lowered its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 8.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 270,039 shares of the company's stock after selling 25,994 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in Pinterest were worth $8,371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Pinterest by 104.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock valued at $737,533,000 after purchasing an additional 12,986,310 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Pinterest by 49.7% in the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after purchasing an additional 4,527,902 shares during the period. FMR LLC increased its holdings in shares of Pinterest by 2.6% in the fourth quarter. FMR LLC now owns 12,599,356 shares of the company's stock valued at $365,381,000 after purchasing an additional 316,633 shares during the period. Norges Bank acquired a new position in shares of Pinterest in the fourth quarter valued at approximately $358,205,000. Finally, Marshall Wace LLP increased its holdings in shares of Pinterest by 134.1% in the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock valued at $310,352,000 after purchasing an additional 6,129,985 shares during the period. Hedge funds and other institutional investors own 88.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Piper Sandler dropped their target price on Pinterest from $41.00 to $34.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Oppenheimer upped their price objective on Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. JPMorgan Chase & Co. raised Pinterest from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $35.00 to $40.00 in a report on Tuesday, June 3rd. Morgan Stanley upped their price objective on Pinterest from $28.00 to $37.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Finally, Raymond James Financial lowered Pinterest from an "overweight" rating to a "market perform" rating in a report on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.52.

Pinterest Trading Down 0.1%

Shares of NYSE:PINS traded down $0.05 on Monday, hitting $35.63. The company had a trading volume of 7,937,479 shares, compared to its average volume of 11,064,124. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $44.06. The business has a 50 day moving average of $32.49 and a 200 day moving average of $31.98. The company has a market cap of $24.17 billion, a PE ratio of 13.00, a PEG ratio of 1.76 and a beta of 0.94.

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

Insider Buying and Selling

In related news, insider Wanjiku Juanita Walcott sold 11,510 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $35.68, for a total transaction of $410,676.80. Following the transaction, the insider directly owned 390,230 shares in the company, valued at approximately $13,923,406.40. This represents a 2.87% 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, Director Benjamin Silbermann sold 408,332 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total value of $13,540,289.12. Following the transaction, the director owned 6,274 shares in the company, valued at $208,045.84. This trade represents a 98.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,176,362 shares of company stock worth $39,645,976. 7.11% of the stock is owned by company insiders.

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.