Sherbrooke Park Advisers LLC Sells 23,412 Shares of Pinterest, Inc. (NYSE:PINS)

Sherbrooke Park Advisers LLC trimmed its stake in Pinterest, Inc. (NYSE:PINS) by 57.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,307 shares of the company’s stock after selling 23,412 shares during the period. Sherbrooke Park Advisers LLC’s holdings in Pinterest were worth $502,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Whipplewood Advisors LLC acquired a new position in Pinterest during the 4th quarter valued at about $28,000. Strategic Investment Solutions Inc. IL increased its position in Pinterest by 401.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after buying an additional 1,204 shares in the last quarter. V Square Quantitative Management LLC increased its position in Pinterest by 51.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after buying an additional 590 shares in the last quarter. Huntington National Bank increased its position in Pinterest by 484.1% during the 4th quarter. Huntington National Bank now owns 2,027 shares of the company’s stock valued at $59,000 after buying an additional 1,680 shares in the last quarter. Finally, CoreCap Advisors LLC increased its position in Pinterest by 98.5% during the 4th quarter. CoreCap Advisors LLC now owns 2,096 shares of the company’s stock valued at $61,000 after buying an additional 1,040 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Pinterest

In related news, Director Benjamin Silbermann sold 408,332 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total value of $13,540,289.12. Following the completion of the sale, the director now owns 6,274 shares of the company’s stock, valued at approximately $208,045.84. This trade represents a 98.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total value of $31,050.00. Following the completion of the sale, the director now directly owns 26,786 shares of the company’s stock, valued at approximately $723,222. This represents a 4.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 862,168 shares of company stock valued at $28,368,681 over the last quarter. 7.06% of the stock is currently owned by insiders.

Pinterest Price Performance

Shares of Pinterest stock opened at $32.56 on Friday. The business has a 50 day simple moving average of $28.74 and a two-hundred day simple moving average of $31.22. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $45.19. The stock has a market capitalization of $22.08 billion, a P/E ratio of 12.10, a PEG ratio of 1.95 and a beta of 0.83.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The firm had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. During the same period in the previous year, the company earned $0.17 EPS. Pinterest’s revenue was up 15.5% compared to the same quarter last year. As a group, research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on PINS. BMO Capital Markets dropped their price target on Pinterest from $46.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $34.00 to $47.00 in a research note on Friday, February 7th. The Goldman Sachs Group dropped their price target on Pinterest from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Benchmark dropped their price target on Pinterest from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Finally, Citigroup boosted their price target on Pinterest from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Seven investment 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.26.

About Pinterest

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.