Linden Thomas Advisory Services LLC Cuts Holdings in Pinterest, Inc. (NYSE:PINS)

Linden Thomas Advisory Services LLC decreased its position in Pinterest, Inc. (NYSE:PINS) by 14.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,754 shares of the company’s stock after selling 5,532 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Pinterest were worth $1,399,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PINS. Global Retirement Partners LLC boosted its holdings in shares of Pinterest by 396.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,300 shares of the company’s stock worth $48,000 after buying an additional 1,038 shares during the last quarter. International Assets Investment Management LLC increased its stake in Pinterest by 3,402.0% in the fourth quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock valued at $2,973,000 after acquiring an additional 77,974 shares during the last quarter. Allworth Financial LP raised its position in Pinterest by 17.7% during the fourth quarter. Allworth Financial LP now owns 2,856 shares of the company’s stock valued at $106,000 after purchasing an additional 430 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in Pinterest during the fourth quarter worth about $250,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Pinterest by 11.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 418,732 shares of the company’s stock valued at $15,510,000 after purchasing an additional 43,318 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Trading Up 0.9 %

Shares of NYSE:PINS traded up $0.26 during trading on Thursday, reaching $29.05. The company’s stock had a trading volume of 6,793,900 shares, compared to its average volume of 9,837,421. The stock has a market capitalization of $19.85 billion, a PE ratio of 137.12, a price-to-earnings-growth ratio of 3.13 and a beta of 0.97. Pinterest, Inc. has a 12 month low of $23.59 and a 12 month high of $45.19. The firm’s 50 day simple moving average is $40.70 and its two-hundred day simple moving average is $38.23.

Pinterest (NYSE:PINS) last announced 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. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. During the same quarter in the previous year, the business earned ($0.04) EPS. The company’s quarterly revenue was up 20.6% on a year-over-year basis. Research analysts anticipate that Pinterest, Inc. will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total value of $481,590.34. Following the sale, the insider now directly owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Wanjiku Juanita Walcott sold 11,627 shares of Pinterest stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the completion of the sale, the insider now directly owns 307,256 shares in the company, valued at $12,726,543.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total transaction of $81,711.50. Following the completion of the transaction, the director now owns 29,712 shares in the company, valued at $1,255,332. The disclosure for this sale can be found here. Insiders have sold 50,250 shares of company stock worth $2,191,304 over the last quarter. Insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

PINS has been the subject of a number of recent analyst reports. Raymond James lowered their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Morgan Stanley boosted their price objective on shares of Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Stifel Nicolaus dropped their target price on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Rosenblatt Securities reiterated a “buy” rating and set a $48.00 price target on shares of Pinterest in a research report on Wednesday, July 31st. Finally, Susquehanna lowered their price objective on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.71.

Pinterest 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.