Pinterest, Inc. (NYSE:PINS) Shares Sold by Eminence Capital LP

Eminence Capital LP cut its position in shares of Pinterest, Inc. (NYSE:PINS) by 2.4% during the second quarter, Holdings Channel reports. The institutional investor owned 4,301,446 shares of the company’s stock after selling 106,833 shares during the quarter. Pinterest comprises 3.1% of Eminence Capital LP’s holdings, making the stock its 6th biggest position. Eminence Capital LP’s holdings in Pinterest were worth $189,565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in shares of Pinterest by 17.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,451 shares of the company’s stock worth $572,000 after purchasing an additional 2,285 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Pinterest by 56.7% during the fourth quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock worth $3,570,000 after buying an additional 34,876 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Pinterest by 113.0% during the 4th quarter. US Bancorp DE now owns 26,081 shares of the company’s stock worth $966,000 after acquiring an additional 13,835 shares during the period. Advisory Services Network LLC boosted its position in shares of Pinterest by 14.9% during the 4th quarter. Advisory Services Network LLC now owns 15,365 shares of the company’s stock valued at $569,000 after acquiring an additional 1,994 shares in the last quarter. Finally, TD Asset Management Inc raised its position in Pinterest by 197.8% in the fourth quarter. TD Asset Management Inc now owns 346,726 shares of the company’s stock worth $12,843,000 after purchasing an additional 230,280 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PINS shares. KeyCorp decreased their price objective on Pinterest from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Susquehanna reduced their target price on Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a report on Wednesday, July 31st. Wedbush reduced their target price on Pinterest from $46.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Wolfe Research began coverage on Pinterest in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company reduced their target price on Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.87.

Pinterest Stock Up 1.6 %

PINS opened at $32.16 on Thursday. Pinterest, Inc. has a 12 month low of $23.59 and a 12 month high of $45.19. The company has a fifty day simple moving average of $32.01 and a 200 day simple moving average of $36.66. The stock has a market cap of $22.07 billion, a P/E ratio of 153.15, a P/E/G ratio of 3.40 and a beta of 1.00.

Pinterest (NYSE:PINS) last announced its 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. 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 analyst estimates of $848.75 million. During the same period in the prior year, the business earned ($0.04) EPS. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, equities research analysts expect 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.