Pinterest, Inc. (NYSE:PINS) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. reduced its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,250 shares of the company’s stock after selling 673 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Pinterest were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Revolve Wealth Partners LLC acquired a new position in shares of Pinterest in the fourth quarter worth $252,000. Proficio Capital Partners LLC purchased a new stake in Pinterest during the 4th quarter worth about $1,926,000. US Bancorp DE raised its stake in Pinterest by 27.2% in the 4th quarter. US Bancorp DE now owns 23,698 shares of the company’s stock valued at $687,000 after purchasing an additional 5,063 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Pinterest by 20.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,564 shares of the company’s stock valued at $75,000 after purchasing an additional 429 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Pinterest by 91.3% in the 4th quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company’s stock valued at $725,000 after purchasing an additional 11,925 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Raymond James Financial downgraded shares of Pinterest from an “overweight” rating to a “market perform” rating in a research note on Monday, April 7th. BMO Capital Markets reduced their price target on Pinterest from $46.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. The Goldman Sachs Group decreased their price objective on Pinterest from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 14th. UBS Group dropped their target price on Pinterest from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Morgan Stanley increased their target price on Pinterest from $28.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and an average price target of $40.52.

Pinterest Price Performance

Shares of PINS stock opened at $35.74 on Friday. The company has a market cap of $24.24 billion, a P/E ratio of 13.04, a PEG ratio of 1.76 and a beta of 0.94. The business has a 50 day moving average of $32.30 and a two-hundred day moving average of $31.91. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $44.06.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $854.99 million for the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 EPS. Analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,510 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $35.68, for a total value of $410,676.80. Following the completion of the transaction, the insider owned 390,230 shares of the company’s stock, valued at approximately $13,923,406.40. This represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 29,606 shares of the firm’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total value of $1,014,005.50. Following the transaction, the chief financial officer directly owned 362,890 shares in the company, valued at $12,428,982.50. This trade represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,176,362 shares of company stock worth $39,645,976. Company insiders own 7.06% of the company’s stock.

About Pinterest

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.