S Bank Fund Management Ltd Sells 778 Shares of Pinterest, Inc. $PINS

S Bank Fund Management Ltd reduced its position in shares of Pinterest, Inc. (NYSE:PINS) by 23.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,513 shares of the company’s stock after selling 778 shares during the quarter. S Bank Fund Management Ltd’s holdings in Pinterest were worth $90,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PINS. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Pinterest in the first quarter valued at $25,000. Garde Capital Inc. acquired a new position in shares of Pinterest in the first quarter valued at $26,000. West Branch Capital LLC acquired a new position in shares of Pinterest in the second quarter valued at $36,000. Golden State Wealth Management LLC increased its holdings 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 purchasing an additional 1,058 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in shares of Pinterest by 133.5% in the first quarter. Mather Group LLC. now owns 1,310 shares of the company’s stock valued at $41,000 after purchasing an additional 749 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Andrea Acosta sold 3,759 shares of Pinterest stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $34.96, for a total value of $131,414.64. Following the completion of the transaction, the chief accounting officer owned 157,402 shares in the company, valued at approximately $5,502,773.92. This represents a 2.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 762,319 shares of company stock worth $27,523,976. Insiders own 7.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PINS shares. Mizuho started coverage on shares of Pinterest in a report on Monday, September 29th. They issued an “outperform” rating and a $50.00 price objective on the stock. Barclays upped their target price on Pinterest from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, August 8th. Cowen reissued a “buy” rating on shares of Pinterest in a research report on Friday, August 8th. Sanford C. Bernstein boosted their target price on shares of Pinterest from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen cut shares of Pinterest from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and an average price target of $42.67.

Pinterest Stock Down 2.3%

PINS stock opened at $32.56 on Friday. The company has a market cap of $22.14 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.40 and a beta of 0.81. The business has a 50-day simple moving average of $34.76 and a 200 day simple moving average of $33.13. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $40.90.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. Pinterest had a return on equity of 8.44% and a net margin of 49.31%.The firm had revenue of $665.93 million for the quarter. On average, analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal 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.