ClariVest Asset Management LLC Lowers Stock Holdings in Pinterest, Inc. (NYSE:PINS)

ClariVest Asset Management LLC trimmed its position in shares of Pinterest, Inc. (NYSE:PINS) by 69.9% in the first quarter, HoldingsChannel.com reports. The fund owned 36,701 shares of the company’s stock after selling 85,125 shares during the period. ClariVest Asset Management LLC’s holdings in Pinterest were worth $1,272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. ARK Investment Management LLC boosted its holdings in Pinterest by 152.3% during the 4th quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock valued at $53,507,000 after acquiring an additional 872,016 shares during the period. Nordea Investment Management AB boosted its stake in shares of Pinterest by 57.9% in the 4th quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock valued at $32,766,000 after buying an additional 323,547 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Pinterest by 3,402.0% in the 4th quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock valued at $2,973,000 after buying an additional 77,974 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Pinterest by 55.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock valued at $6,477,000 after buying an additional 62,117 shares during the period. Finally, Raymond James Trust N.A. boosted its stake in shares of Pinterest by 48.5% in the 4th quarter. Raymond James Trust N.A. now owns 27,686 shares of the company’s stock valued at $1,025,000 after buying an additional 9,040 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Price Performance

Shares of NYSE:PINS traded down $0.83 during trading on Friday, reaching $41.29. The company had a trading volume of 8,632,090 shares, compared to its average volume of 5,694,819. The firm has a market capitalization of $28.21 billion, a price-to-earnings ratio of 196.63, a price-to-earnings-growth ratio of 4.03 and a beta of 0.97. The stock’s fifty day moving average price is $42.74 and its 200 day moving average price is $38.29. Pinterest, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. The business had revenue of $739.98 million for the quarter, compared to analyst estimates of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. On average, equities analysts anticipate that Pinterest, Inc. will post 0.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PINS shares. Benchmark reiterated a “hold” rating on shares of Pinterest in a research note on Wednesday, May 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Pinterest in a research note on Wednesday, May 1st. BMO Capital Markets boosted their target price on Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Wedbush boosted their target price on Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Sanford C. Bernstein boosted their target price on Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and a consensus target price of $42.04.

Insider Activity

In related news, CAO Andrea Acosta sold 2,564 shares of Pinterest stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total value of $115,380.00. Following the sale, the chief accounting officer now directly owns 186,906 shares in the company, valued at $8,410,770. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of Pinterest stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total value of $481,590.34. Following the sale, the insider now directly owns 307,256 shares in the company, valued at $12,726,543.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Andrea Acosta sold 2,564 shares of Pinterest stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the sale, the chief accounting officer now owns 186,906 shares in the company, valued at $8,410,770. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,184 shares of company stock valued at $2,255,783. 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.