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

S Bank Fund Management Ltd reduced its holdings in Pinterest, Inc. (NYSE:PINS) by 23.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. 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 quarter.

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

Pinterest Stock Performance

PINS opened at $32.56 on Friday. The stock’s 50 day moving average price is $34.76 and its 200-day moving average price is $33.13. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $40.90. The stock has a market capitalization 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.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The business had revenue of $665.93 million during the quarter. Research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Monness Crespi & Hardt increased their price target on Pinterest from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, August 8th. TD Cowen raised their price target on Pinterest from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, July 15th. Wells Fargo & Company set a $42.00 price objective on shares of Pinterest and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Guggenheim reaffirmed a “buy” rating on shares of Pinterest in a research note on Tuesday, September 2nd. Finally, Wall Street Zen downgraded shares of Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.67.

Insider Activity

In other news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total transaction of $3,558,613.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $35.00, for a total transaction of $40,250.00. Following the sale, the director directly owned 30,600 shares in the company, valued at approximately $1,071,000. The trade was a 3.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 762,319 shares of company stock valued at $27,523,976 in the last quarter. 7.06% of the stock is owned by company insiders.

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.