DAVENPORT & Co LLC Sells 1,294 Shares of Pinterest, Inc. (NYSE:PINS)

DAVENPORT & Co LLC lessened its position in shares of Pinterest, Inc. (NYSE:PINSGet Rating) by 13.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,241 shares of the company’s stock after selling 1,294 shares during the period. DAVENPORT & Co LLC’s holdings in Pinterest were worth $300,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd boosted its stake in shares of Pinterest by 108.9% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 45,811 shares of the company’s stock worth $2,334,000 after buying an additional 23,882 shares during the last quarter. Ensign Peak Advisors Inc boosted its stake in shares of Pinterest by 24.4% during the 3rd quarter. Ensign Peak Advisors Inc now owns 37,550 shares of the company’s stock worth $1,913,000 after buying an additional 7,355 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Pinterest by 104.9% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 21,516 shares of the company’s stock worth $1,096,000 after buying an additional 11,016 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Pinterest by 42.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 51,239 shares of the company’s stock worth $2,610,000 after buying an additional 15,313 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Pinterest by 3.0% during the 4th quarter. New York State Common Retirement Fund now owns 658,819 shares of the company’s stock worth $23,948,000 after buying an additional 19,115 shares during the last quarter. Hedge funds and other institutional investors own 63.76% of the company’s stock.

Several brokerages recently issued reports on PINS. KeyCorp cut their target price on shares of Pinterest from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, April 20th. UBS Group raised their target price on shares of Pinterest from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, February 4th. Morgan Stanley downgraded shares of Pinterest from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $53.00 to $30.00 in a research note on Monday, March 28th. Robert W. Baird cut their target price on shares of Pinterest from $53.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, February 4th. Finally, Wedbush cut their target price on shares of Pinterest from $39.00 to $26.00 in a research note on Thursday, April 28th. Twenty research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Pinterest has an average rating of “Hold” and a consensus price target of $36.64.

NYSE:PINS traded up $1.27 during mid-day trading on Thursday, reaching $20.16. The stock had a trading volume of 16,872,655 shares, compared to its average volume of 13,560,618. The stock has a 50-day simple moving average of $23.30 and a two-hundred day simple moving average of $31.15. The stock has a market capitalization of $13.38 billion, a PE ratio of 42.00, a P/E/G ratio of 4.06 and a beta of 1.24. Pinterest, Inc. has a 12 month low of $18.32 and a 12 month high of $81.77.

Pinterest (NYSE:PINSGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.21. Pinterest had a net margin of 12.48% and a return on equity of 12.69%. During the same period in the previous year, the business earned ($0.02) EPS. Sell-side analysts expect that Pinterest, Inc. will post 0.38 earnings per share for the current fiscal year.

In other Pinterest news, CEO Benjamin Silbermann sold 59,154 shares of the business’s stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $20.58, for a total transaction of $1,217,389.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Evan Sharp sold 57,525 shares of the business’s stock in a transaction on Tuesday, April 26th. The stock was sold at an average price of $19.33, for a total transaction of $1,111,958.25. The disclosure for this sale can be found here. Insiders sold 352,848 shares of company stock worth $8,090,398 over the last three months. 8.45% of the stock is currently owned by insiders.

Pinterest Company Profile (Get Rating)

Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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