Sequoia Financial Advisors LLC Raises Holdings in Pinterest, Inc. $PINS

Sequoia Financial Advisors LLC lifted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 52.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 11,565 shares of the company’s stock after acquiring an additional 3,997 shares during the period. Sequoia Financial Advisors LLC’s holdings in Pinterest were worth $415,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in shares of Pinterest by 73.9% during the first quarter. Janney Montgomery Scott LLC now owns 89,034 shares of the company’s stock worth $2,760,000 after acquiring an additional 37,829 shares during the last quarter. Truist Financial Corp grew its stake in shares of Pinterest by 15.6% during the second quarter. Truist Financial Corp now owns 98,363 shares of the company’s stock worth $3,527,000 after acquiring an additional 13,267 shares during the last quarter. Ninety One UK Ltd grew its stake in shares of Pinterest by 11.0% during the second quarter. Ninety One UK Ltd now owns 6,689,112 shares of the company’s stock worth $239,872,000 after acquiring an additional 661,757 shares during the last quarter. Guild Investment Management Inc. grew its stake in shares of Pinterest by 47.5% during the second quarter. Guild Investment Management Inc. now owns 34,955 shares of the company’s stock worth $1,253,000 after acquiring an additional 11,250 shares during the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of Pinterest during the first quarter worth about $261,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the sale, the chief financial officer owned 312,422 shares in the company, valued at approximately $10,887,906.70. This represents a 6.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 742,319 shares of company stock worth $26,752,376. 7.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PINS has been the topic of a number of research analyst reports. Cowen restated a “buy” rating on shares of Pinterest in a research note on Friday, August 8th. Guggenheim reiterated a “buy” rating on shares of Pinterest in a report on Tuesday, September 2nd. Oppenheimer reiterated an “outperform” rating on shares of Pinterest in a report on Friday, August 8th. Bank of America increased their price target on shares of Pinterest from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, UBS Group increased their price target on shares of Pinterest from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.67.

Pinterest Trading Up 1.6%

Pinterest stock opened at $32.90 on Tuesday. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90. The stock’s 50 day simple moving average is $34.67 and its two-hundred day simple moving average is $33.24. The firm has a market cap of $22.37 billion, a PE ratio of 11.79, a P/E/G ratio of 1.36 and a beta of 0.81.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a return on equity of 8.44% and a net margin of 49.31%.The business had revenue of $665.93 million for the quarter. On average, equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

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.