US Bancorp DE Sells 2,057 Shares of Pinterest, Inc. (NYSE:PINS)

US Bancorp DE reduced its stake in Pinterest, Inc. (NYSE:PINS) by 8.7% during the first quarter, HoldingsChannel.com reports. The firm owned 21,641 shares of the company’s stock after selling 2,057 shares during the quarter. US Bancorp DE’s holdings in Pinterest were worth $671,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC bought a new position in shares of Pinterest during the 1st quarter valued at $25,000. Garde Capital Inc. bought a new position in shares of Pinterest during the 1st quarter valued at $26,000. NBC Securities Inc. lifted its holdings in shares of Pinterest by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock valued at $31,000 after buying an additional 999 shares during the period. American National Bank & Trust bought a new position in shares of Pinterest during the 1st quarter valued at $32,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Pinterest by 665.4% during the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company’s stock valued at $38,000 after buying an additional 1,058 shares during the period. 88.81% of the stock is owned by institutional investors.

Insider Activity at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,510 shares of the company’s 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 transaction, the insider directly owned 390,230 shares of the company’s stock, valued at $13,923,406.40. This represents a 2.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 29,606 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total value of $1,014,005.50. Following the sale, the chief financial officer directly owned 362,890 shares in the company, valued at approximately $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 quarter, insiders have sold 1,502,611 shares of company stock worth $51,602,943. Insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PINS shares. Benchmark increased their price target on Pinterest from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Wall Street Zen upgraded Pinterest from a “hold” rating to a “buy” rating in a research note on Saturday. Wolfe Research upgraded Pinterest from a “peer perform” rating to an “outperform” rating and set a $40.00 price target for the company in a research note on Thursday, May 15th. Oppenheimer reiterated an “outperform” rating on shares of Pinterest in a research note on Friday. Finally, JPMorgan Chase & Co. upgraded Pinterest from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $35.00 to $40.00 in a research note on Tuesday, June 3rd. Five research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $42.40.

Pinterest Stock Down 10.2%

Pinterest stock opened at $35.19 on Monday. The stock has a 50-day simple moving average of $36.01 and a 200 day simple moving average of $33.13. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90. The stock has a market capitalization of $23.87 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.76 and a beta of 0.78.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). The company had revenue of $998.23 million for the quarter, compared to analyst estimates of $973.42 million. Pinterest had a return on equity of 8.44% and a net margin of 49.31%. Pinterest’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 earnings per share. As a group, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

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.