Amova Asset Management Americas Inc. Sells 1,734,420 Shares of Pinterest, Inc. $PINS

Amova Asset Management Americas Inc. trimmed its holdings in Pinterest, Inc. (NYSE:PINS) by 70.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 741,035 shares of the company’s stock after selling 1,734,420 shares during the period. Amova Asset Management Americas Inc.’s holdings in Pinterest were worth $13,605,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PINS. Elevated Capital Advisors LLC bought a new stake in shares of Pinterest during the fourth quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd grew its position in shares of Pinterest by 2,017.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock valued at $29,000 after purchasing an additional 1,049 shares during the last quarter. Addison Advisors LLC increased its stake in shares of Pinterest by 727.3% during the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after purchasing an additional 1,200 shares during the period. Garner Asset Management Corp bought a new position in Pinterest during the 4th quarter worth $36,000. Finally, Summit Securities Group LLC acquired a new position in shares of Pinterest in the first quarter valued at about $43,000. 88.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Wanjiku Juanita Walcott sold 27,337 shares of Pinterest stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $20.46, for a total transaction of $559,315.02. Following the sale, the insider directly owned 724,673 shares of the company’s stock, valued at approximately $14,826,809.58. This trade represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $22.63, for a total value of $1,060,781.25. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 323,845 shares of company stock valued at $6,836,065 over the last quarter. Corporate insiders own 8.09% of the company’s stock.

Pinterest Trading Down 1.6%

Shares of Pinterest stock opened at $22.82 on Tuesday. The firm has a market capitalization of $12.78 billion, a PE ratio of 47.54, a price-to-earnings-growth ratio of 1.32 and a beta of 0.89. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average is $20.97 and its 200 day moving average is $20.74. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. During the same period in the prior year, the business earned $0.23 earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities research analysts forecast that Pinterest, Inc. will post 0.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 price objective on shares of Pinterest in a research note on Tuesday, May 5th. Oppenheimer raised their target price on shares of Pinterest from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Wedbush assumed coverage on shares of Pinterest in a report on Thursday, July 16th. They set a “neutral” rating and a $24.00 target price on the stock. Guggenheim reiterated a “buy” rating and issued a $24.00 price target on shares of Pinterest in a research report on Monday, June 15th. Finally, Royal Bank Of Canada boosted their price target on Pinterest from $17.00 to $23.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 5th. Seventeen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.66.

Pinterest Profile

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.