Pinterest, Inc. (NYSE:PINS) Shares Sold by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. trimmed its holdings in Pinterest, Inc. (NYSE:PINS) by 8.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 270,039 shares of the company’s stock after selling 25,994 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Pinterest were worth $8,371,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PINS. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Pinterest during the 1st quarter valued at approximately $25,000. Garde Capital Inc. acquired a new position in Pinterest during the first quarter worth approximately $26,000. NBC Securities Inc. raised its position in shares of Pinterest by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock worth $31,000 after buying an additional 999 shares during the period. American National Bank & Trust purchased a new stake in shares of Pinterest during the 1st quarter worth about $32,000. Finally, Golden State Wealth Management LLC grew its stake in shares of Pinterest by 665.4% in the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company’s stock valued at $38,000 after buying an additional 1,058 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pinterest

In related news, CAO Andrea Acosta sold 3,759 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $31.86, for a total transaction of $119,761.74. Following the completion of the transaction, the chief accounting officer owned 171,373 shares of the company’s stock, valued at approximately $5,459,943.78. The trade was a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 29,606 shares of the business’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total value of $1,014,005.50. Following the transaction, the chief financial officer owned 362,890 shares of the company’s stock, valued at approximately $12,428,982.50. The trade was a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,176,362 shares of company stock worth $39,645,976. Company insiders own 7.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PINS shares. Monness Crespi & Hardt reduced their target price on shares of Pinterest from $50.00 to $40.00 and set a “buy” rating for the company in a report on Friday, May 9th. Citigroup reiterated a “buy” rating and set a $44.00 price objective (up from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th. Bank of America reduced their price objective on Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Guggenheim lowered their price target on Pinterest from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Finally, TD Cowen lowered their price objective on shares of Pinterest from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $40.52.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $35.74 on Friday. The company has a market capitalization of $24.24 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.76 and a beta of 0.94. The company’s 50-day moving average is $32.11 and its 200 day moving average is $31.88. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $44.06.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $854.99 million during the quarter, compared to analysts’ expectations of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 earnings per share. As a group, research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

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.