World Equity Group Inc. Sells 8,620 Shares of Pinterest, Inc. (NYSE:PINS)

World Equity Group Inc. lessened its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 50.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,614 shares of the company's stock after selling 8,620 shares during the quarter. World Equity Group Inc.'s holdings in Pinterest were worth $278,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Whipplewood Advisors LLC bought a new stake in shares of Pinterest in the fourth quarter valued at $28,000. NBC Securities Inc. grew its stake 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 worth $31,000 after acquiring an additional 999 shares during the period. American National Bank & Trust bought a new stake in Pinterest in the 1st quarter valued at about $32,000. Strategic Investment Solutions Inc. IL raised its stake in Pinterest by 401.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company's stock valued at $44,000 after acquiring an additional 1,204 shares during the period. Finally, Huntington National Bank lifted its holdings in Pinterest by 484.1% during the fourth quarter. Huntington National Bank now owns 2,027 shares of the company's stock valued at $59,000 after purchasing an additional 1,680 shares during the last quarter. Institutional investors own 88.81% of the company's stock.

Pinterest Price Performance

NYSE:PINS opened at $34.23 on Friday. The firm has a market capitalization of $23.21 billion, a P/E ratio of 12.49, a PEG ratio of 1.69 and a beta of 0.91. Pinterest, Inc. has a one year low of $23.68 and a one year high of $45.19. The company's 50-day simple moving average is $30.28 and its 200 day simple moving average is $31.63.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PINS. TD Cowen lowered their price target 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. Guggenheim lowered their target price on shares of Pinterest from $40.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. raised Pinterest from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $35.00 to $40.00 in a report on Tuesday, June 3rd. UBS Group reduced their price target on Pinterest from $50.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Citigroup increased their price objective on Pinterest from $38.00 to $41.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $40.42.

Insider Activity at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the sale, the director now directly owns 6,274 shares of the company's stock, valued at $196,187.98. This trade represents a 94.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total value of $31,050.00. Following the completion of the sale, the director now owns 26,786 shares of the company's stock, valued at $723,222. The trade was a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,177,104 shares of company stock valued at $38,966,047. 7.06% of the stock is owned by insiders.

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.

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