Park Avenue Securities LLC Has $248,000 Stock Position in Pinterest, Inc. (NYSE:PINS)

Park Avenue Securities LLC cut its position in shares of Pinterest, Inc. (NYSE:PINS) by 53.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,667 shares of the company’s stock after selling 8,810 shares during the period. Park Avenue Securities LLC’s holdings in Pinterest were worth $248,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of Pinterest by 389.4% during the 3rd quarter. SG Americas Securities LLC now owns 71,977 shares of the company’s stock valued at $2,330,000 after acquiring an additional 57,269 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in Pinterest during the second quarter valued at approximately $103,000. Sanctuary Advisors LLC bought a new stake in shares of Pinterest in the 2nd quarter valued at approximately $3,853,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Pinterest by 10.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 271,622 shares of the company’s stock worth $11,971,000 after buying an additional 25,500 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Pinterest by 8.8% during the 2nd quarter. Cetera Investment Advisers now owns 69,122 shares of the company’s stock worth $3,046,000 after buying an additional 5,587 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Stock Down 0.5 %

Shares of NYSE:PINS opened at $33.98 on Tuesday. The firm has a market cap of $23.21 billion, a price-to-earnings ratio of 161.81, a PEG ratio of 2.61 and a beta of 1.01. Pinterest, Inc. has a 12 month low of $23.59 and a 12 month high of $45.19. The company’s fifty day simple moving average is $31.16 and its 200 day simple moving average is $36.54.

Pinterest (NYSE:PINS) last posted 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. The business had revenue of $853.68 million during the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. Pinterest’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period last year, the company earned ($0.04) earnings per share. Research analysts expect that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $45.00 price objective on shares of Pinterest in a research note on Friday, September 13th. Barclays cut their price target 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $48.00 price objective on shares of Pinterest in a research note on Wednesday, July 31st. Roth Mkm cut their target price on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft began coverage on Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 price target on the stock. Eight 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 has an average rating of “Moderate Buy” and an average target price of $43.32.

Insider Buying and Selling

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.11% of the stock is currently owned by corporate insiders.

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.