Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 60.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 130,244 shares of the company's stock after selling 201,655 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Pinterest were worth $4,038,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Redwood Investment Management LLC increased its position in shares of 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 during the period. EP Wealth Advisors LLC increased its position in shares of Pinterest by 9.3% during the fourth quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock worth $223,000 after acquiring an additional 656 shares during the period. SteelPeak Wealth LLC increased its position in shares of Pinterest by 1.5% during the first quarter. SteelPeak Wealth LLC now owns 46,613 shares of the company's stock worth $1,445,000 after acquiring an additional 670 shares during the period. LRI Investments LLC increased its position in shares of Pinterest by 97.7% during the first quarter. LRI Investments LLC now owns 1,374 shares of the company's stock worth $43,000 after acquiring an additional 679 shares during the period. Finally, Resonant Capital Advisors LLC increased its position 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 worth $365,000 after acquiring an additional 686 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on PINS. Morgan Stanley raised shares of Pinterest from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $37.00 to $45.00 in a report on Monday, July 21st. Barclays cut their price objective on shares of Pinterest from $42.00 to $38.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Sanford C. Bernstein lifted their price objective on shares of Pinterest from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Raymond James Financial lowered shares of Pinterest from an "overweight" rating to a "market perform" rating in a report on Monday, April 7th. Finally, Guggenheim reissued a "buy" rating on shares of Pinterest in a report on Monday. Five analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $41.48.
View Our Latest Report on PINS
Insider Transactions at Pinterest
In related news, Director Benjamin Silbermann sold 408,332 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total transaction of $13,540,289.12. Following the completion of the transaction, the director directly owned 6,274 shares in the company, valued at $208,045.84. The trade was a 98.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 1,502,611 shares of company stock worth $51,602,943 in the last three months. Insiders own 7.06% of the company's stock.
Pinterest Trading Up 0.8%
NYSE:PINS opened at $38.62 on Friday. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90. The firm has a fifty day simple moving average of $35.16 and a 200-day simple moving average of $32.81. The company has a market capitalization of $26.20 billion, a P/E ratio of 14.10, a PEG ratio of 1.92 and a beta of 0.94.
Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). The business had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Equities analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.
Pinterest Company Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Pinterest, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pinterest wasn't on the list.
While Pinterest currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.