New Insight Wealth Advisors Sells 2,520 Shares of Pinterest, Inc. (NYSE:PINS)

New Insight Wealth Advisors cut its holdings in Pinterest, Inc. (NYSE:PINS) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,593 shares of the company’s stock after selling 2,520 shares during the quarter. New Insight Wealth Advisors’ holdings in Pinterest were worth $684,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PINS. Hantz Financial Services Inc. boosted its position in Pinterest by 3.7% in the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after buying an additional 339 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Pinterest by 2.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock worth $366,000 after buying an additional 342 shares during the last quarter. Ethos Financial Group LLC increased its position in shares of Pinterest by 3.1% during the fourth quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock worth $342,000 after purchasing an additional 350 shares in the last quarter. Amalgamated Bank raised its position in shares of Pinterest by 0.9% in the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock valued at $1,154,000 after buying an additional 372 shares during the last quarter. Finally, Commerce Bank lifted its stake in Pinterest by 3.3% in the 3rd quarter. Commerce Bank now owns 11,868 shares of the company’s stock worth $384,000 after purchasing an additional 378 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the transaction, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This represents a 2.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total value of $35,627.00. Following the sale, the director now directly owns 31,386 shares in the company, valued at approximately $972,338.28. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 100,189 shares of company stock worth $3,433,811. Corporate insiders own 7.11% of the company’s stock.

Pinterest Stock Down 0.4 %

Shares of Pinterest stock opened at $34.37 on Monday. The business’s fifty day moving average is $34.13 and its two-hundred day moving average is $32.27. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm has a market cap of $23.31 billion, a PE ratio of 12.78, a P/E/G ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Equities research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Raymond James increased their price objective on Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Wedbush raised their price objective on shares of Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Roth Capital set a $32.00 price target on Pinterest in a research note on Monday, February 3rd. The Goldman Sachs Group increased their target price on shares of Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada raised their target price on shares of Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $43.47.

Pinterest Company 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.