Focus Partners Advisor Solutions LLC Sells 379 Shares of Pinterest, Inc. $PINS

Focus Partners Advisor Solutions LLC lowered its holdings in Pinterest, Inc. (NYSE:PINS) by 1.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 19,204 shares of the company’s stock after selling 379 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Pinterest were worth $689,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Pinterest by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company’s stock valued at $1,798,270,000 after purchasing an additional 1,263,863 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 valued at $988,662,000 after purchasing an additional 6,460,143 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Pinterest by 13.7% in the 1st quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company’s stock valued at $480,452,000 after purchasing an additional 1,862,654 shares in the last quarter. Amundi grew its position in shares of 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 during the last quarter. Finally, Swedbank AB grew its position in shares of Pinterest by 27.3% in the 2nd quarter. Swedbank AB now owns 7,430,885 shares of the company’s stock worth $266,472,000 after buying an additional 1,591,400 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Trading Down 5.8%

Shares of Pinterest stock opened at $33.19 on Wednesday. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90. The firm has a market capitalization of $22.56 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.53 and a beta of 0.81. The firm’s 50 day simple moving average is $34.45 and its two-hundred day simple moving average is $33.56.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Pinterest from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Susquehanna reaffirmed a “positive” rating and issued a $42.00 price objective on shares of Pinterest in a research report on Friday, August 8th. Benchmark lifted their price objective on shares of Pinterest from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Barclays lifted their price objective on shares of Pinterest from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, August 8th. Finally, TD Cowen lifted their price objective on shares of Pinterest from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.67.

Insider Buying and Selling at Pinterest

In other news, CAO Andrea Acosta sold 3,759 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $34.96, for a total value of $131,414.64. Following the sale, the chief accounting officer directly owned 157,402 shares of the company’s stock, valued at $5,502,773.92. This represents a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $35.00, for a total transaction of $40,250.00. Following the completion of the sale, the director directly owned 30,600 shares in the company, valued at $1,071,000. This trade represents a 3.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 640,236 shares of company stock valued at $22,878,326 over the last quarter. Insiders own 7.11% 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.