Mount Yale Investment Advisors LLC Sells 6,983 Shares of Pinterest, Inc. (NYSE:PINS)

Mount Yale Investment Advisors LLC reduced its position in shares of Pinterest, Inc. (NYSE:PINS) by 27.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 18,367 shares of the company’s stock after selling 6,983 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Pinterest were worth $809,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Pinterest by 1.8% in the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock worth $1,988,110,000 after acquiring an additional 994,848 shares during the period. Baillie Gifford & Co. increased its position in shares of Pinterest by 9.5% during the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock valued at $445,818,000 after buying an additional 880,398 shares during the period. Capital World Investors raised its stake in Pinterest by 0.7% in 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 holdings in Pinterest by 2.2% in 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 during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Pinterest by 1,188.9% in the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after purchasing an additional 5,524,796 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Thursday, June 27th. The stock was 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 $16,102,040.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on PINS shares. Benchmark reissued a “hold” rating on shares of Pinterest in a research report on Wednesday, July 31st. Wedbush cut their price objective on shares of Pinterest from $46.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Barclays lowered their target price 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. Citigroup cut their price target on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group lifted their price objective on Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.79.

Pinterest Trading Up 0.2 %

Shares of NYSE:PINS opened at $30.45 on Tuesday. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19. The company has a market cap of $20.80 billion, a PE ratio of 145.00, a price-to-earnings-growth ratio of 3.22 and a beta of 1.00. The stock has a 50 day moving average of $32.36 and a 200 day moving average of $36.71.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $848.75 million. During the same period in the prior 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. Equities research analysts predict that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

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.