Pinterest, Inc. (NYSE:PINS) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel trimmed its holdings in Pinterest, Inc. (NYSE:PINS) by 8.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,120 shares of the company’s stock after selling 1,685 shares during the period. Carnegie Investment Counsel’s holdings in Pinterest were worth $799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PINS. GAMMA Investing LLC purchased a new position in Pinterest in the 4th quarter valued at about $27,000. Hexagon Capital Partners LLC lifted its holdings in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after purchasing an additional 459 shares in the last quarter. Quent Capital LLC lifted its holdings in Pinterest by 71.2% in the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 460 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Pinterest in the 4th quarter valued at about $43,000. Finally, Quadrant Capital Group LLC lifted its holdings in Pinterest by 40.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock valued at $48,000 after purchasing an additional 378 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Raymond James cut 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, July 31st. Morgan Stanley increased their price objective 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. Rosenblatt Securities reiterated a “buy” rating and set a $48.00 price objective on shares of Pinterest in a report on Wednesday, July 31st. Stifel Nicolaus cut their price objective on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.71.

Insider Buying and Selling at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Andrea Acosta sold 2,564 shares of Pinterest stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $45.00, for a total transaction of $115,380.00. Following the sale, the chief accounting officer now owns 186,906 shares in the company, valued at $8,410,770. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,316 shares of company stock worth $2,109,592. 7.11% of the stock is owned by insiders.

Pinterest Stock Up 1.8 %

PINS stock traded up $0.57 during mid-day trading on Wednesday, reaching $32.22. The company had a trading volume of 2,779,485 shares, compared to its average volume of 9,932,518. The stock has a market capitalization of $22.01 billion, a P/E ratio of 150.62, a P/E/G ratio of 3.26 and a beta of 0.97. Pinterest, Inc. has a one year low of $23.59 and a one year high of $45.19. The stock’s 50-day simple moving average is $38.51 and its two-hundred day simple moving average is $37.76.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period last year, the business posted ($0.04) earnings per share. On average, research analysts forecast that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

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.