Sunbelt Securities Inc. Sells 1,547 Shares of Pinterest, Inc. (NYSE:PINS)

Sunbelt Securities Inc. reduced its stake in Pinterest, Inc. (NYSE:PINS) by 5.4% in the 4th quarter, HoldingsChannel reports. The firm owned 26,860 shares of the company’s stock after selling 1,547 shares during the quarter. Sunbelt Securities Inc.’s holdings in Pinterest were worth $783,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in shares of Pinterest by 91.3% during the fourth quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company’s stock worth $725,000 after acquiring an additional 11,925 shares in the last quarter. Swedbank AB increased its position in shares of Pinterest by 2,108.7% during the fourth quarter. Swedbank AB now owns 1,315,052 shares of the company’s stock worth $38,137,000 after acquiring an additional 1,255,513 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Pinterest by 699.4% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 296,033 shares of the company’s stock worth $8,585,000 after acquiring an additional 259,002 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Pinterest by 94.9% during the fourth quarter. Pacer Advisors Inc. now owns 53,033 shares of the company’s stock worth $1,538,000 after acquiring an additional 25,828 shares in the last quarter. Finally, Golden State Equity Partners increased its position in shares of Pinterest by 23,687.8% during the fourth quarter. Golden State Equity Partners now owns 17,603 shares of the company’s stock worth $510,000 after acquiring an additional 17,529 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Stock Down 2.6%

NYSE PINS opened at $30.91 on Friday. The company’s 50 day moving average is $28.73 and its 200-day moving average is $31.20. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $45.19. The firm has a market cap of $20.96 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The business had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. During the same period last year, the firm earned $0.17 EPS. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities analysts expect that Pinterest, Inc. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Guggenheim cut their price target on shares of Pinterest from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, May 9th. BMO Capital Markets cut their price target on shares of Pinterest from $46.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Piper Sandler cut their price target on shares of Pinterest from $41.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Raymond James cut shares of Pinterest from an “overweight” rating to a “market perform” rating in a report on Monday, April 7th. Finally, Stifel Nicolaus cut their price target on shares of Pinterest from $50.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.26.

Insider Activity

In other news, insider Wanjiku Juanita Walcott sold 6,690 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the sale, the insider now owns 254,211 shares of the company’s stock, valued at $8,350,831.35. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the sale, the chief accounting officer now directly owns 144,129 shares in the company, valued at approximately $5,399,072.34. This trade represents a 2.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 968,010 shares of company stock valued at $31,760,067 over the last quarter. Company insiders own 7.06% of the company’s stock.

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.