Caliber Wealth Management LLC KS Trims Position in Pinterest, Inc. $PINS

Caliber Wealth Management LLC KS trimmed its stake in Pinterest, Inc. (NYSE:PINS) by 6.5% during the 2nd quarter, Holdings Channel reports. The firm owned 25,107 shares of the company’s stock after selling 1,750 shares during the quarter. Caliber Wealth Management LLC KS’s holdings in Pinterest were worth $900,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Amundi grew its stake in Pinterest by 618.9% in the 1st quarter. Amundi now owns 14,254,741 shares of the company’s stock worth $441,897,000 after buying an additional 12,271,958 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Pinterest by 25.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock worth $988,662,000 after buying an additional 6,460,143 shares in the last quarter. Swedbank AB grew its stake in Pinterest by 344.0% in the 1st quarter. Swedbank AB now owns 5,839,485 shares of the company’s stock worth $181,024,000 after buying an additional 4,524,433 shares in the last quarter. Pacer Advisors Inc. grew its stake in Pinterest by 4,673.9% in the 1st quarter. Pacer Advisors Inc. now owns 2,531,741 shares of the company’s stock worth $78,484,000 after buying an additional 2,478,708 shares in the last quarter. Finally, Congress Asset Management Co. purchased a new position in Pinterest in the 2nd quarter worth approximately $82,516,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total transaction of $3,558,613.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total value of $795,311.85. Following the completion of the transaction, the chief financial officer directly owned 312,422 shares in the company, valued at approximately $10,887,906.70. This represents a 6.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 640,236 shares of company stock valued at $22,878,326. Company insiders own 7.06% of the company’s stock.

Pinterest Trading Down 2.4%

NYSE PINS opened at $32.96 on Thursday. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90. The stock has a market cap of $22.41 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.41 and a beta of 0.81. The stock’s fifty day moving average price is $34.60 and its 200-day moving average price is $33.24.

Pinterest (NYSE:PINS) last released its earnings results 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 firm had revenue of $665.93 million for the quarter. As a group, analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on PINS. Wells Fargo & Company set a $42.00 price target on shares of Pinterest and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. UBS Group boosted their target price on Pinterest from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Oppenheimer restated an “outperform” rating on shares of Pinterest in a research report on Friday, August 8th. Citigroup restated a “buy” rating and issued a $50.00 target price (up previously from $44.00) on shares of Pinterest in a research report on Friday, August 8th. Finally, Mizuho assumed coverage on Pinterest in a research report on Monday, September 29th. They issued an “outperform” rating and a $50.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.67.

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.