Zevenbergen Capital Investments LLC Sells 39,625 Shares of Pinterest, Inc. $PINS

Zevenbergen Capital Investments LLC trimmed its stake in shares of Pinterest, Inc. (NYSE:PINS) by 9.3% in the 3rd quarter, Holdings Channel reports. The firm owned 386,870 shares of the company’s stock after selling 39,625 shares during the period. Zevenbergen Capital Investments LLC’s holdings in Pinterest were worth $12,446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PINS. Golden State Wealth Management LLC grew its position in Pinterest by 282.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after purchasing an additional 506 shares during the period. West Branch Capital LLC bought a new position in shares of Pinterest during the 2nd quarter valued at $36,000. Wellington Shields Capital Management LLC bought a new position in shares of Pinterest during the 2nd quarter valued at $40,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Pinterest in the 2nd quarter worth $45,000. Finally, SVB Wealth LLC bought a new stake in shares of Pinterest in the first quarter worth $56,000. Institutional investors own 88.81% of the company’s stock.

Pinterest Trading Down 0.6%

NYSE PINS opened at $26.08 on Friday. 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 $17.62 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 1.66 and a beta of 0.89. The company’s 50 day moving average is $28.65 and its two-hundred day moving average is $33.14.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. The business had revenue of $665.93 million during the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. Sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Buying and Selling

In other Pinterest news, insider Wanjiku Juanita Walcott sold 74,047 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the sale, the insider owned 301,214 shares in the company, valued at approximately $8,099,644.46. This represents a 19.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 198,959 shares of company stock valued at $6,345,304. Company insiders own 7.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Evercore ISI lowered their target price on Pinterest from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Pinterest in a research note on Monday. Mizuho started coverage on shares of Pinterest in a research note on Monday, September 29th. They issued an “outperform” rating and a $50.00 price objective on the stock. Piper Sandler reissued a “neutral” rating and issued a $33.00 price objective (down previously from $35.00) on shares of Pinterest in a report on Wednesday, November 5th. Finally, Wall Street Zen lowered shares of Pinterest from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.97.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.