SWS Partners Cuts Stock Holdings in Pinterest, Inc. (NYSE:PINS)

SWS Partners reduced its position in shares of Pinterest, Inc. (NYSE:PINS) by 2.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 96,788 shares of the company’s stock after selling 2,150 shares during the period. Pinterest comprises 1.3% of SWS Partners’ portfolio, making the stock its 17th biggest holding. SWS Partners’ holdings in Pinterest were worth $4,265,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Pinterest by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock valued at $1,988,110,000 after acquiring an additional 994,848 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Pinterest by 34.0% in the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after purchasing an additional 2,548,925 shares during the last quarter. Capital World Investors lifted its position in Pinterest by 0.7% during the fourth quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock worth $329,179,000 after buying an additional 64,270 shares in the last quarter. Clearbridge Investments LLC lifted its position in Pinterest by 2.2% during the first quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock worth $283,592,000 after buying an additional 176,540 shares in the last quarter. Finally, Norges Bank purchased a new stake in Pinterest in the 4th quarter valued at $241,229,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Up 4.8 %

PINS stock traded up $1.40 during trading on Thursday, hitting $30.68. The company had a trading volume of 14,356,449 shares, compared to its average volume of 9,959,310. The firm has a 50-day moving average price of $39.26 and a 200-day moving average price of $37.90. The firm has a market cap of $21.05 billion, a PE ratio of 146.10, a price-to-earnings-growth ratio of 3.22 and a beta of 0.97. Pinterest, Inc. has a 1-year low of $23.59 and a 1-year high of $45.19.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The business had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. Sell-side analysts anticipate that Pinterest, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In related news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $43.90, for a total value of $168,795.50. Following the completion of the sale, the chief accounting officer now owns 189,470 shares in the company, valued at $8,317,733. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $43.90, for a total transaction of $168,795.50. Following the transaction, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total value of $481,590.34. Following the completion of the sale, the insider now directly owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,316 shares of company stock valued at $2,109,592. 7.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

PINS has been the topic of a number of analyst reports. Susquehanna reduced their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a research report on Wednesday, July 31st. Roth Mkm lowered their price target on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price objective on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company cut their price target on Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Wolfe Research assumed coverage on Pinterest in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.71.

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.