Kingsview Wealth Management LLC Sells 7,583 Shares of Pinterest, Inc. (NYSE:PINS)

Kingsview Wealth Management LLC lessened its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 39.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,423 shares of the company's stock after selling 7,583 shares during the quarter. Kingsview Wealth Management LLC's holdings in Pinterest were worth $331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PINS. GAMMA Investing LLC boosted its holdings in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock valued at $31,000 after buying an additional 415 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Pinterest in the third quarter worth $37,000. Crewe Advisors LLC lifted its position in shares of Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company's stock worth $37,000 after purchasing an additional 550 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company's stock worth $49,000 after purchasing an additional 1,487 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its position in shares of Pinterest by 44.2% in the third quarter. Rakuten Securities Inc. now owns 2,294 shares of the company's stock worth $74,000 after purchasing an additional 703 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Pinterest Stock Up 0.4 %

Shares of PINS stock traded up $0.17 on Tuesday, reaching $39.04. The company had a trading volume of 2,615,634 shares, compared to its average volume of 12,249,362. The stock has a market capitalization of $26.38 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The business's 50-day moving average is $32.31 and its 200 day moving average is $31.60.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 9.20% and a net margin of 51.07%. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In related news, CAO Andrea Acosta sold 3,845 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the transaction, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. This trade represents a 2.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the transaction, the director now owns 30,236 shares of the company's stock, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock worth $589,131 in the last quarter. 7.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PINS has been the topic of a number of research reports. Piper Sandler reissued a "neutral" rating and issued a $41.00 price objective (up previously from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Guggenheim boosted their price objective on shares of Pinterest from $33.00 to $39.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. cut their price objective on shares of Pinterest from $38.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, November 8th. Barclays boosted their price objective on shares of Pinterest from $36.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Finally, Roth Mkm dropped their price target on shares of Pinterest from $39.00 to $33.00 and set a "neutral" rating on the stock in a research report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. According to data from MarketBeat, Pinterest has an average rating of "Moderate Buy" and a consensus price target of $43.86.

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.