Brown Advisory Inc. Trims Position in Pinterest, Inc. $PINS

Brown Advisory Inc. trimmed its stake in Pinterest, Inc. (NYSE:PINS) by 39.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 186,133 shares of the company’s stock after selling 123,003 shares during the period. Brown Advisory Inc.’s holdings in Pinterest were worth $6,675,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in Pinterest by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock worth $988,662,000 after purchasing an additional 6,460,143 shares in the last quarter. Franklin Resources Inc. raised its position in Pinterest by 4.4% during the 2nd quarter. Franklin Resources Inc. now owns 16,862,033 shares of the company’s stock valued at $604,673,000 after purchasing an additional 718,105 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Pinterest by 13.7% during the 1st quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company’s stock worth $480,452,000 after buying an additional 1,862,654 shares in the last quarter. Amundi grew its position in shares of Pinterest by 618.9% during 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. Finally, Norges Bank purchased a new position in shares of Pinterest during the second quarter valued at $477,853,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred 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 is accessible through this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total transaction of $795,311.85. Following the transaction, the chief financial officer owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. This trade represents a 6.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 403,125 shares of company stock worth $13,669,759. Insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wedbush downgraded shares of Pinterest from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $34.00 to $30.00 in a research note on Monday. Roth Capital lowered their target price on Pinterest from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Morgan Stanley dropped their target price on Pinterest from $41.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Guggenheim reduced their price target on Pinterest from $44.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Piper Sandler restated a “neutral” rating and set a $33.00 price objective (down from $35.00) on shares of Pinterest in a research note on Wednesday, November 5th. One research 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.97.

Pinterest Trading Up 1.5%

PINS opened at $27.16 on Tuesday. The firm has a 50 day moving average of $29.60 and a two-hundred day moving average of $33.48. The firm has a market capitalization of $18.35 billion, a PE ratio of 9.43, a P/E/G ratio of 1.70 and a beta of 0.89. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The firm had revenue of $665.93 million for the quarter. As a group, analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.