Pinterest, Inc. $PINS Shares Sold by Avestar Capital LLC

Avestar Capital LLC cut its stake in shares of Pinterest, Inc. (NYSE:PINS) by 75.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,225 shares of the company’s stock after selling 18,766 shares during the period. Avestar Capital LLC’s holdings in Pinterest were worth $223,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Group LLC increased its holdings in shares of Pinterest by 4.5% in the 2nd quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock valued at $36,548,000 after acquiring an additional 43,541 shares during the period. Oppenheimer Asset Management Inc. grew its position in Pinterest by 243.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock worth $2,490,000 after purchasing an additional 49,204 shares during the last quarter. KLP Kapitalforvaltning AS increased its stake in Pinterest by 8.0% in the second quarter. KLP Kapitalforvaltning AS now owns 412,200 shares of the company’s stock valued at $14,781,000 after purchasing an additional 30,500 shares during the period. Norges Bank acquired a new position in Pinterest in the second quarter valued at $477,853,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of Pinterest by 101.2% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 108,064 shares of the company’s stock valued at $3,875,000 after buying an additional 54,365 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Performance

NYSE:PINS opened at $27.16 on Tuesday. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90. The stock has a fifty day moving average price of $29.60 and a two-hundred day moving average price of $33.48. The stock has a market capitalization of $18.35 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 1.70 and a beta of 0.89.

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

Analyst Ratings Changes

PINS has been the topic of a number of research reports. Roth Capital lowered their price target on Pinterest from $39.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Wedbush downgraded Pinterest from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $34.00 to $30.00 in a research note on Monday. Monness Crespi & Hardt lowered Pinterest from a “buy” rating to a “neutral” rating in a report on Wednesday, November 5th. Citigroup reaffirmed a “buy” rating on shares of Pinterest in a report on Wednesday, November 5th. Finally, BMO Capital Markets dropped their price objective on shares of Pinterest from $41.00 to $35.00 and set an “outperform” rating on the stock in a research note 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.97.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total transaction of $795,311.85. Following the sale, the chief financial officer owned 312,422 shares of the company’s stock, valued at $10,887,906.70. The trade was a 6.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the company’s stock in a transaction that occurred 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 403,125 shares of company stock worth $13,669,759. 7.11% of the stock is owned by company insiders.

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.