Tidal Investments LLC Reduces Stake in Pinterest, Inc. $PINS

Key Points

• Tidal Investments cut its Pinterest stake by 46.2% in the second quarter, selling 80,708 shares and retaining 93,825 shares valued at approximately $1.97 million. Institutional investors collectively own 88.81% of Pinterest.
• Pinterest insiders sold 602,219 shares worth $13.2 million during the last quarter, including sales by insider Claude Leonard Brown and director Benjamin Silbermann under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a consensus “Hold” rating with an average price target of $27.90. Pinterest recently exceeded quarterly EPS and revenue estimates, with revenue rising 18.2% year over year, while shares opened at $18.71.

Tidal Investments LLC cut its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 46.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,825 shares of the company's stock after selling 80,708 shares during the quarter. Tidal Investments LLC's holdings in Pinterest were worth $1,973,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Engineers Gate Manager LP increased its position in Pinterest by 89.7% during the second quarter. Engineers Gate Manager LP now owns 183,035 shares of the company's stock worth $3,849,000 after purchasing an additional 86,560 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Pinterest by 15.0% in the 2nd quarter. NewEdge Advisors LLC now owns 87,223 shares of the company's stock valued at $1,834,000 after purchasing an additional 11,382 shares during the last quarter. Allworth Financial LP boosted its holdings in Pinterest by 8.7% in the 2nd quarter. Allworth Financial LP now owns 16,941 shares of the company's stock valued at $356,000 after purchasing an additional 1,360 shares during the last quarter. Nykredit A S purchased a new stake in shares of Pinterest in the 2nd quarter valued at approximately $1,435,000. Finally, Corient Private Wealth LP grew its stake in shares of Pinterest by 140.9% in the 2nd quarter. Corient Private Wealth LP now owns 245,118 shares of the company's stock valued at $5,155,000 after buying an additional 143,354 shares during the period. Hedge funds and other institutional investors own 88.81% of the company's stock.

Insider Activity at Pinterest

In other news, insider Claude Leonard Brown sold 12,240 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $23.88, for a total transaction of $292,291.20. Following the completion of the transaction, the insider directly owned 1,206,834 shares in the company, valued at $28,819,195.92. This trade represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 on Tuesday, September 15th. The stock was sold at an average price of $19.22, for a total value of $900,937.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 602,219 shares of company stock worth $13,213,078. Insiders own 8.09% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PINS. Evercore lifted their price target on shares of Pinterest from $27.00 to $29.00 and gave the company an "in-line" rating in a research report on Wednesday, August 5th. Guggenheim upped their price objective on Pinterest from $24.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. UBS Group increased their price objective on Pinterest from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada raised their target price on Pinterest from $23.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company lifted their target price on Pinterest from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Eighteen research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company's stock. Based on data from MarketBeat, Pinterest has a consensus rating of "Hold" and an average target price of $27.90.

Pinterest Price Performance

Shares of PINS opened at $18.71 on Thursday. Pinterest, Inc. has a 1-year low of $13.84 and a 1-year high of $37.05. The stock has a market cap of $10.48 billion, a PE ratio of 55.02, a P/E/G ratio of 1.23 and a beta of 0.90. The firm has a 50-day simple moving average of $22.48 and a two-hundred day simple moving average of $20.77. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.81 and a quick ratio of 3.81.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.07. Pinterest had a net margin of 5.46% and a return on equity of 7.49%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm earned $0.33 EPS. The business's revenue was up 18.2% on a year-over-year basis. As a group, analysts forecast that Pinterest, Inc. will post 0.58 EPS for the current year.

Pinterest Profile

Pinterest, Inc NYSE: PINS operates a visual discovery and planning platform that helps people find ideas and inspiration across categories such as home design, food, fashion, travel and hobbies. Users can discover, save and organize images, videos and other content into collections called boards, as well as share ideas with others.

The company also provides tools for merchants, creators and advertisers. Businesses can use Pinterest to showcase products, reach audiences through visual advertising and direct users to websites or online shopping experiences.

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