Pinterest, Inc. $PINS Shares Sold by Amundi

Amundi lessened its stake in shares of Pinterest, Inc. (NYSE:PINS) by 85.3% in the second quarter, HoldingsChannel reports. The firm owned 2,092,552 shares of the company’s stock after selling 12,162,189 shares during the quarter. Amundi’s holdings in Pinterest were worth $74,788,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. M Holdings Securities Inc. acquired a new position in shares of Pinterest in the 2nd quarter valued at about $768,000. Mirabella Financial Services LLP purchased a new stake in shares of Pinterest during the second quarter worth about $2,117,000. Dynamic Wealth Strategies LLC raised its position in shares of Pinterest by 5.8% in the 2nd quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock valued at $237,000 after purchasing an additional 361 shares in the last quarter. First Trust Advisors LP boosted its stake in Pinterest by 1,549.6% during the 2nd quarter. First Trust Advisors LP now owns 1,379,815 shares of the company’s stock valued at $49,480,000 after acquiring an additional 1,296,169 shares during the last quarter. Finally, Kennedy Capital Management LLC acquired a new position in Pinterest in the second quarter worth about $4,805,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PINS shares. Sanford C. Bernstein dropped their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Monness Crespi & Hardt lowered shares of Pinterest from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 5th. UBS Group lowered their price target on Pinterest from $51.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Rosenblatt Securities reissued a “neutral” rating and set a $30.00 target price (down from $49.00) on shares of Pinterest in a research note on Wednesday, November 5th. Finally, Benchmark decreased their price target on Pinterest from $48.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.97.

Pinterest Price Performance

PINS stock opened at $27.16 on Tuesday. The company has a 50-day moving average of $29.60 and a two-hundred day moving average of $33.48. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $40.90. The stock has a market capitalization of $18.35 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 1.70 and a beta of 0.89.

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

Insider Activity at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 74,047 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the completion of the transaction, the insider owned 301,214 shares in the company, valued at $8,099,644.46. This trade represents a 19.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total transaction of $3,558,613.38. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 403,125 shares of company stock worth $13,669,759 over the last three months. Company insiders own 7.11% of the company’s stock.

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.