Pinterest, Inc. $PINS Shares Sold by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC cut its Pinterest stake by 61.9% in the first quarter, selling 86,394 shares and leaving it with 53,218 shares worth about $976,000.
• Pinterest reported better-than-expected Q1 earnings, with EPS of $0.27 versus the $0.22 estimate and revenue of $1.01 billion, up 17.8% year over year.
• Despite strong fundamentals, the stock was roughly flat and analysts remain cautious overall, with a consensus Hold rating and an average price target of $27.40.

SG Americas Securities LLC trimmed its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 61.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,218 shares of the company's stock after selling 86,394 shares during the period. SG Americas Securities LLC's holdings in Pinterest were worth $976,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Pinterest by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 62,056,069 shares of the company's stock worth $1,606,632,000 after purchasing an additional 1,069,646 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Pinterest by 15.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company's stock valued at $719,994,000 after buying an additional 3,669,476 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Pinterest by 30.5% during the 4th quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company's stock valued at $694,082,000 after buying an additional 6,258,628 shares during the period. State Street Corp raised its holdings in shares of Pinterest by 52.6% during the 4th quarter. State Street Corp now owns 21,492,169 shares of the company's stock valued at $556,432,000 after buying an additional 7,412,213 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Pinterest by 10.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 19,732,086 shares of the company's stock worth $634,767,000 after acquiring an additional 1,913,668 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Trading Down 0.1%

Shares of PINS opened at $22.06 on Friday. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93. The stock has a 50-day moving average price of $20.50 and a 200 day moving average price of $21.03. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The company has a market capitalization of $12.35 billion, a P/E ratio of 45.95, a P/E/G ratio of 1.24 and a beta of 0.89.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $965.84 million. During the same period in the previous year, the business earned $0.23 EPS. Pinterest's revenue for the quarter was up 17.8% compared to the same quarter last year. Sell-side analysts forecast that Pinterest, Inc. will post 0.66 EPS for the current fiscal year.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $21.45, for a total value of $1,005,468.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 14,208 shares of Pinterest stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $19.65, for a total transaction of $279,187.20. Following the completion of the sale, the insider owned 691,840 shares of the company's stock, valued at approximately $13,594,656. This trade represents a 2.01% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 279,070 shares of company stock valued at $5,817,283. 8.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen cut Pinterest from a "buy" rating to a "hold" rating in a report on Saturday. Barclays lifted their price objective on shares of Pinterest from $25.00 to $27.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 5th. Benchmark reduced their target price on shares of Pinterest from $34.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their target price on shares of Pinterest from $20.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $30.00 price target on shares of Pinterest in a report on Tuesday, May 5th. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $27.40.

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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