Pinterest, Inc. (NYSE:PINS) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lowered its stake in shares of Pinterest, Inc. (NYSE:PINS) by 4.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 265,353 shares of the company’s stock after selling 12,974 shares during the period. Royal London Asset Management Ltd.’s holdings in Pinterest were worth $11,694,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wellington Shields Capital Management LLC purchased a new position in Pinterest during the second quarter valued at approximately $26,000. Hexagon Capital Partners LLC grew its stake in shares of Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares during the period. GAMMA Investing LLC increased its holdings in shares of Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Pinterest in the 2nd quarter valued at $35,000. Finally, International Assets Investment Management LLC purchased a new stake in Pinterest during the second quarter worth $40,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Up 0.3 %

Shares of NYSE:PINS opened at $29.31 on Friday. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19. The stock has a market cap of $20.02 billion, a P/E ratio of 139.57, a PEG ratio of 3.26 and a beta of 1.00. The business has a fifty day moving average of $34.15 and a two-hundred day moving average of $37.00.

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

Insider Transactions at Pinterest

In related news, CAO Andrea Acosta sold 2,564 shares of the company’s 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 transaction, the chief accounting officer now directly owns 186,906 shares in the company, valued at $8,410,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the sale, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the transaction, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PINS shares. Barclays cut their price objective on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Morgan Stanley lifted their price target on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Raymond James lowered their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Wolfe Research initiated coverage on Pinterest in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Robert W. Baird reduced their target price on Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.50.

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.