Pinterest, Inc. (NYSE:PINS) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its holdings in Pinterest, Inc. (NYSE:PINS) by 18.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,916 shares of the company’s stock after selling 7,563 shares during the quarter. Intech Investment Management LLC’s holdings in Pinterest were worth $1,451,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Pinterest during the 2nd quarter valued at approximately $137,000. Hsbc Holdings PLC increased its stake in Pinterest by 28.8% in the 2nd quarter. Hsbc Holdings PLC now owns 479,080 shares of the company’s stock valued at $21,113,000 after purchasing an additional 107,096 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Pinterest by 7.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 55,990 shares of the company’s stock worth $2,445,000 after purchasing an additional 3,904 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in Pinterest by 41.4% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,422 shares of the company’s stock worth $4,073,000 after purchasing an additional 27,081 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its holdings in Pinterest by 24.5% in the second quarter. Meiji Yasuda Life Insurance Co now owns 40,715 shares of the company’s stock valued at $1,794,000 after purchasing an additional 8,000 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Stock Up 3.9 %

PINS opened at $31.66 on Wednesday. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19. The company has a 50 day moving average of $32.18 and a two-hundred day moving average of $36.68. The company has a market cap of $21.63 billion, a P/E ratio of 150.76, a P/E/G ratio of 3.22 and a beta of 1.00.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $48.00 price target on shares of Pinterest in a research note on Wednesday, July 31st. Barclays reduced their price target on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Morgan Stanley raised their price objective on shares of Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group upped their target price on Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Benchmark reissued a “hold” rating on shares of Pinterest in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.87.

Insider Activity at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.