Pinterest, Inc. (NYSE:PINS) Shares Sold by FDx Advisors Inc.

FDx Advisors Inc. reduced its position in Pinterest, Inc. (NYSE:PINS) by 33.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,005 shares of the company’s stock after selling 3,576 shares during the quarter. FDx Advisors Inc.’s holdings in Pinterest were worth $309,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Corient Private Wealth LLC raised its stake in Pinterest by 56.7% during the 4th quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock valued at $3,570,000 after acquiring an additional 34,876 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Pinterest by 13.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock worth $15,598,000 after purchasing an additional 51,455 shares during the period. Contrarius Investment Management Ltd increased its stake in Pinterest by 300.0% in the 4th quarter. Contrarius Investment Management Ltd now owns 1,722,412 shares of the company’s stock valued at $63,798,000 after buying an additional 1,291,854 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Pinterest by 10.5% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 231,822 shares of the company’s stock worth $8,586,000 after acquiring an additional 22,101 shares during the period. Finally, Deltec Asset Management LLC acquired a new position in shares of Pinterest during the first quarter worth about $6,449,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Evercore ISI decreased their price target on Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Citigroup dropped their price objective on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. KeyCorp reduced their target price on Pinterest from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Stifel Nicolaus lowered their price target on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.65.

Pinterest Price Performance

Pinterest stock opened at $30.80 on Friday. The firm’s 50-day moving average is $35.83 and its two-hundred day moving average is $37.27. The stock has a market capitalization of $21.13 billion, a P/E ratio of 146.67, a P/E/G ratio of 3.57 and a beta of 1.00. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $848.75 million. During the same period in the previous year, the company earned ($0.04) EPS. Pinterest’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, analysts forecast that Pinterest, Inc. will post 0.39 EPS for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction 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 transaction, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the transaction, the chief accounting officer now directly owns 189,470 shares of the company’s stock, valued at $8,317,733. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’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 transaction, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The disclosure for this sale can be found here. Insiders sold 36,689 shares of company stock worth $1,628,002 in the last 90 days. 7.11% of the stock is owned by company 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.