Pinterest, Inc. (NYSE:PINS) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its holdings in Pinterest, Inc. (NYSE:PINS) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 559,012 shares of the company’s stock after selling 28,965 shares during the quarter. NewEdge Wealth LLC owned about 0.08% of Pinterest worth $20,706,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC increased its stake in Pinterest by 21.9% in the 1st quarter. Acadian Asset Management LLC now owns 13,589 shares of the company’s stock valued at $334,000 after purchasing an additional 2,437 shares in the last quarter. MetLife Investment Management LLC purchased a new position in Pinterest in the 1st quarter valued at approximately $906,000. Raymond James Trust N.A. increased its stake in Pinterest by 29.0% in the 1st quarter. Raymond James Trust N.A. now owns 11,342 shares of the company’s stock valued at $279,000 after purchasing an additional 2,550 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Pinterest by 11.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 492,299 shares of the company’s stock valued at $12,118,000 after purchasing an additional 51,318 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Pinterest by 261.5% in the 1st quarter. Sei Investments Co. now owns 273,925 shares of the company’s stock valued at $6,691,000 after purchasing an additional 198,153 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pinterest

In related news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $35.08, for a total value of $701,600.00. Following the completion of the sale, the director now directly owns 34,215 shares in the company, valued at $1,200,262.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the sale, the chief financial officer now directly owns 392,829 shares in the company, valued at $13,521,174.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $35.08, for a total transaction of $701,600.00. Following the sale, the director now owns 34,215 shares of the company’s stock, valued at $1,200,262.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,471 shares of company stock valued at $6,531,381. 6.85% of the stock is owned by insiders.

Pinterest Stock Performance

Shares of NYSE PINS traded down $0.48 during trading on Friday, hitting $33.54. The company had a trading volume of 6,074,290 shares, compared to its average volume of 9,750,351. The company has a market cap of $22.77 billion, a P/E ratio of -558.24, a PEG ratio of 4.59 and a beta of 0.99. Pinterest, Inc. has a 52 week low of $20.60 and a 52 week high of $41.60. The business’s 50-day moving average is $35.62 and its 200 day moving average is $33.70.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The company had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. On average, research analysts expect that Pinterest, Inc. will post 0.36 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on PINS shares. Susquehanna raised their price target on Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. Piper Sandler reissued an “overweight” rating and set a $48.00 price target on shares of Pinterest in a research report on Tuesday, March 26th. Argus raised Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Thursday, January 18th. Evercore ISI raised their price target on Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, Roth Mkm raised their price target on Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.97.

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.