SBI Securities Co. Ltd. Cuts Stock Position in Pinterest, Inc. (NYSE:PINS)

SBI Securities Co. Ltd. lessened its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 64.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,420 shares of the company's stock after selling 110,865 shares during the quarter. SBI Securities Co. Ltd.'s holdings in Pinterest were worth $1,904,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Redwood Investment Management LLC boosted its stake in Pinterest by 3.2% during the fourth quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock worth $463,000 after acquiring an additional 495 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in Pinterest by 9.3% in the fourth quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock worth $223,000 after buying an additional 656 shares during the last quarter. SteelPeak Wealth LLC raised its holdings in Pinterest by 1.5% in the first quarter. SteelPeak Wealth LLC now owns 46,613 shares of the company's stock worth $1,445,000 after buying an additional 670 shares during the last quarter. LRI Investments LLC raised its holdings in Pinterest by 97.7% in the first quarter. LRI Investments LLC now owns 1,374 shares of the company's stock worth $43,000 after buying an additional 679 shares during the last quarter. Finally, Resonant Capital Advisors LLC raised its holdings in shares of Pinterest by 6.2% during the first quarter. Resonant Capital Advisors LLC now owns 11,787 shares of the company's stock valued at $365,000 after purchasing an additional 686 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

Pinterest Trading Down 1.3%

Shares of NYSE:PINS traded down $0.46 during trading on Wednesday, reaching $36.07. The stock had a trading volume of 9,310,403 shares, compared to its average volume of 11,082,472. Pinterest, Inc. has a one year low of $23.68 and a one year high of $42.20. The company has a market capitalization of $24.47 billion, a P/E ratio of 13.16, a PEG ratio of 1.80 and a beta of 0.94. The firm's 50-day simple moving average is $33.80 and its 200 day simple moving average is $32.25.

Pinterest (NYSE:PINS - Get Free Report) last released 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 net margin of 50.41% and a return on equity of 8.13%. The firm had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. The firm's quarterly revenue was up 15.5% on a year-over-year basis. Equities research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $35.50, for a total value of $3,623,946.50. Following the completion of the transaction, the director directly owned 8,414 shares of the company's stock, valued at $298,697. This trade represents a 92.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeremy S. Levine sold 6,274 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $34.11, for a total transaction of $214,006.14. Following the completion of the transaction, the director directly owned 1,158,833 shares of the company's stock, valued at $39,527,793.63. The trade was a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,278,445 shares of company stock valued at $43,269,922 over the last 90 days. 7.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PINS has been the subject of several research reports. Raymond James Financial cut shares of Pinterest from an "overweight" rating to a "market perform" rating in a report on Monday, April 7th. Wedbush restated an "outperform" rating and set a $40.00 target price (up previously from $38.00) on shares of Pinterest in a research report on Friday, May 9th. Wells Fargo & Company set a $42.00 target price on shares of Pinterest and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Morgan Stanley upped their price target on shares of Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Finally, Stifel Nicolaus decreased their price target on shares of Pinterest from $50.00 to $36.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.97.

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.