Pinterest, Inc. $PINS Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 83.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 126,688 shares of the company's stock after selling 658,417 shares during the period. Allspring Global Investments Holdings LLC's holdings in Pinterest were worth $2,317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Pinterest in the first quarter valued at about $2,244,000. D.A. Davidson & CO. lifted its holdings in shares of Pinterest by 22.0% in the 1st quarter. D.A. Davidson & CO. now owns 41,593 shares of the company's stock worth $763,000 after acquiring an additional 7,502 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Pinterest by 11.1% in the 1st quarter. Bank of New York Mellon Corp now owns 4,014,388 shares of the company's stock worth $73,624,000 after acquiring an additional 401,619 shares during the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Pinterest by 12.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 390,551 shares of the company's stock worth $7,163,000 after purchasing an additional 41,755 shares during the period. Finally, Sigma Planning Corp purchased a new position in shares of Pinterest during the 1st quarter worth approximately $249,000. Institutional investors and hedge funds own 88.81% of the company's stock.

Analyst Ratings Changes

PINS has been the topic of a number of research reports. Stifel Nicolaus upped their price target on Pinterest from $25.00 to $27.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. DA Davidson started coverage on Pinterest in a research note on Wednesday, July 8th. They issued a "buy" rating and a $26.00 price objective for the company. Weiss Ratings reiterated a "sell (d+)" rating on shares of Pinterest in a report on Tuesday, June 30th. Mizuho increased their target price on Pinterest from $30.00 to $31.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Evercore set a $27.00 target price on Pinterest in a report on Tuesday, May 5th. Seventeen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $27.69.

Insider Buying and Selling

In related news, insider Wanjiku Juanita Walcott sold 14,208 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $19.65, for a total value of $279,187.20. Following the sale, the insider owned 691,840 shares of the company's stock, valued at $13,594,656. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $22.63, for a total transaction of $1,060,781.25. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 323,845 shares of company stock worth $6,836,065 over the last 90 days. Insiders own 8.09% of the company's stock.

Pinterest Stock Up 1.3%

Shares of NYSE PINS opened at $22.18 on Friday. The stock has a market cap of $12.43 billion, a P/E ratio of 46.22, a PEG ratio of 1.26 and a beta of 0.89. The business's fifty day simple moving average is $21.20 and its 200-day simple moving average is $20.68. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $39.93. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.Pinterest's revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. As a group, equities analysts predict that Pinterest, Inc. will post 0.65 EPS for the current fiscal year.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate "Pins" — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company's primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.

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