EverSource Wealth Advisors LLC Sells 3,859 Shares of Pinterest, Inc. (NYSE:PINS)

EverSource Wealth Advisors LLC decreased its position in shares of Pinterest, Inc. (NYSE:PINS) by 36.7% during the 1st quarter, Holdings Channel reports. The fund owned 6,669 shares of the company’s stock after selling 3,859 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Pinterest were worth $223,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Pinterest by 1.8% in the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock worth $1,988,110,000 after purchasing an additional 994,848 shares in the last quarter. Franklin Resources Inc. increased its holdings in Pinterest by 34.0% during the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock worth $371,764,000 after buying an additional 2,548,925 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Pinterest by 12.6% during the fourth quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock worth $344,685,000 after buying an additional 1,043,173 shares during the last quarter. Capital World Investors increased its holdings in Pinterest by 0.7% during the fourth quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock worth $329,179,000 after buying an additional 64,270 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Pinterest by 2.2% during the first quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock worth $283,592,000 after buying an additional 176,540 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In other news, CAO Andrea Acosta sold 2,564 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the transaction, the chief accounting officer now owns 186,906 shares of the company’s stock, valued at $8,410,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the transaction, the chief financial officer now owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Andrea Acosta sold 2,564 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the transaction, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,250 shares of company stock valued at $2,191,304. 7.11% of the stock is currently owned by insiders.

Pinterest Price Performance

PINS traded down $2.14 on Friday, hitting $29.10. 27,795,613 shares of the stock were exchanged, compared to its average volume of 10,837,772. Pinterest, Inc. has a 12 month low of $23.59 and a 12 month high of $45.19. The business has a 50-day moving average of $41.47 and a two-hundred day moving average of $38.39. The firm has a market capitalization of $19.88 billion, a price-to-earnings ratio of 138.58, a PEG ratio of 3.13 and a beta of 0.97.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) earnings per share. Equities research analysts expect that Pinterest, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PINS has been the topic of a number of recent analyst reports. Robert W. Baird lowered their target price on shares of Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday. Morgan Stanley boosted their target price on shares of Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Raymond James decreased their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday. Sanford C. Bernstein upped their price objective on shares of Pinterest from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. Finally, UBS Group decreased their price objective on shares of Pinterest from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.71.

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.