Pinterest, Inc. (NYSE:PINS) Shares Sold by Perpetual Ltd

Perpetual Ltd reduced its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 31.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,287 shares of the company's stock after selling 13,739 shares during the period. Perpetual Ltd's holdings in Pinterest were worth $939,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Garde Capital Inc. purchased a new stake in Pinterest during the first quarter worth about $26,000. Whipplewood Advisors LLC purchased a new position in Pinterest in the fourth quarter valued at about $28,000. NBC Securities Inc. lifted its position 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 valued at $31,000 after acquiring an additional 999 shares during the period. American National Bank & Trust purchased a new stake in shares of Pinterest during the 1st quarter worth approximately $32,000. Finally, Golden State Wealth Management LLC boosted its stake 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 acquiring an additional 1,058 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Stock Performance

PINS opened at $35.98 on Friday. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $44.06. The company's 50 day simple moving average is $31.25 and its 200 day simple moving average is $31.74. The stock has a market capitalization of $24.40 billion, a PE ratio of 13.13, a P/E/G ratio of 1.77 and a beta of 0.91.

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

Insider Activity at Pinterest

In other news, Director Benjamin Silbermann sold 408,332 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total value of $13,540,289.12. Following the transaction, the director now owns 6,274 shares of the company's stock, valued at approximately $208,045.84. This trade represents a 98.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total transaction of $31,050.00. Following the sale, the director now directly owns 26,786 shares of the company's stock, valued at approximately $723,222. This trade represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,164,852 shares of company stock worth $38,812,675. 7.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Oppenheimer raised their price objective on Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Piper Sandler lowered 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. Morgan Stanley lifted their price target on Pinterest from $28.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. TD Cowen decreased their price objective on shares of Pinterest from $46.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, BMO Capital Markets lowered their price objective 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. 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $40.52.

Pinterest Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.