EverSource Wealth Advisors LLC Cuts Stock Holdings in Pinterest, Inc. (NYSE:PINS)

EverSource Wealth Advisors LLC trimmed its stake in shares of Pinterest, Inc. (NYSE:PINS) by 36.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,669 shares of the company’s stock after selling 3,859 shares during the period. EverSource Wealth Advisors LLC’s holdings in Pinterest were worth $223,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PINS. Blue Trust Inc. lifted its position in shares of Pinterest by 87.7% during the 4th quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock valued at $44,000 after acquiring an additional 557 shares during the period. Global Retirement Partners LLC increased its stake in shares of Pinterest by 396.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,300 shares of the company’s stock worth $48,000 after purchasing an additional 1,038 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Pinterest by 3,402.0% during the 4th quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock worth $2,973,000 after purchasing an additional 77,974 shares in the last quarter. Allworth Financial LP increased its stake in shares of Pinterest by 17.7% during the 4th quarter. Allworth Financial LP now owns 2,856 shares of the company’s stock worth $106,000 after purchasing an additional 430 shares in the last quarter. Finally, Venture Visionary Partners LLC increased its stake in shares of Pinterest by 0.7% during the 4th quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock worth $1,816,000 after purchasing an additional 324 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PINS has been the subject of a number of recent research reports. Citigroup dropped their price objective on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company dropped their price objective on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday. Wolfe Research started coverage on shares of Pinterest in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $48.00 target price on shares of Pinterest in a research note on Wednesday. Finally, KeyCorp lowered their target price on shares of Pinterest from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.71.

Pinterest Stock Performance

Shares of NYSE:PINS traded down $2.14 during midday trading on Friday, hitting $29.10. 27,795,613 shares of the company’s stock traded hands, compared to its average volume of 10,837,772. The company has a market cap of $19.88 billion, a PE ratio of 138.58, a P/E/G ratio of 3.13 and a beta of 0.97. The firm’s fifty day moving average price is $41.47 and its two-hundred day moving average price is $38.39. Pinterest, Inc. has a twelve month low of $23.59 and a twelve month high of $45.19.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The business had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The business’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.04) EPS. As a group, equities research analysts anticipate that Pinterest, Inc. will post 0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total value of $168,795.50. Following the transaction, the chief accounting officer now owns 189,470 shares in the company, valued at approximately $8,317,733. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total value of $168,795.50. Following the transaction, the chief accounting officer now owns 189,470 shares in the company, valued at approximately $8,317,733. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 50,250 shares of company stock worth $2,191,304 in the last quarter. 7.11% of the stock is 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.