Clearbridge Investments LLC Cuts Stake in Pinterest, Inc. $PINS

Clearbridge Investments LLC reduced its stake in shares of Pinterest, Inc. (NYSE:PINS) by 37.8% during the 4th quarter, HoldingsChannel reports. The fund owned 5,338,466 shares of the company’s stock after selling 3,245,125 shares during the period. Clearbridge Investments LLC’s holdings in Pinterest were worth $138,213,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Snowden Capital Advisors LLC lifted its holdings in shares of Pinterest by 4.4% during the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock worth $253,000 after acquiring an additional 296 shares during the period. EP Wealth Advisors LLC increased its position in Pinterest by 3.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock worth $340,000 after purchasing an additional 358 shares in the last quarter. Central Pacific Bank Trust Division increased its position in Pinterest by 0.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 95,960 shares of the company’s stock worth $2,484,000 after purchasing an additional 464 shares in the last quarter. Simon Quick Advisors LLC increased its position in Pinterest by 5.5% during the 4th quarter. Simon Quick Advisors LLC now owns 10,237 shares of the company’s stock worth $265,000 after purchasing an additional 535 shares in the last quarter. Finally, Coyle Financial Counsel LLC increased its position in Pinterest by 5.8% during the 3rd quarter. Coyle Financial Counsel LLC now owns 10,002 shares of the company’s stock worth $322,000 after purchasing an additional 551 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 27,337 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $20.46, for a total transaction of $559,315.02. Following the completion of the sale, the insider owned 724,673 shares of the company’s stock, valued at approximately $14,826,809.58. This trade represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $20.50, for a total transaction of $960,937.50. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 77,362 shares of company stock valued at $1,583,253. 8.09% of the stock is currently owned by corporate insiders.

Pinterest Stock Down 0.3%

PINS stock opened at $21.36 on Monday. Pinterest, Inc. has a twelve month low of $13.84 and a twelve month high of $39.93. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $11.97 billion, a P/E ratio of 44.50, a PEG ratio of 1.16 and a beta of 0.92. The firm has a 50 day simple moving average of $19.64 and a 200-day simple moving average of $21.74.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. During the same quarter last year, the company earned $0.23 earnings per share. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts predict that Pinterest, Inc. will post 0.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on PINS shares. Cantor Fitzgerald set a $18.00 target price on shares of Pinterest in a research report on Friday, February 13th. Loop Capital downgraded shares of Pinterest from a “buy” rating to a “hold” rating and dropped their target price for the stock from $45.00 to $18.00 in a research report on Friday, February 13th. Piper Sandler reissued a “neutral” rating and set a $26.00 target price (up from $21.00) on shares of Pinterest in a research report on Tuesday, May 5th. TD Cowen increased their target price on shares of Pinterest from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of Pinterest from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.40.

Pinterest News Roundup

Here are the key news stories impacting Pinterest this week:

• Positive Sentiment: Pinterest’s expanded AWS deal should help support its AI roadmap, improve search and personalization, and potentially strengthen engagement and ad revenue over time. Pinterest Works with AWS to Power Next Chapter of AI-Driven Visual Search Discovery
• Positive Sentiment: Analysts turned more constructive after Pinterest’s strong first quarter, with Oppenheimer raising its price target to $30 and maintaining an Outperform rating, reinforcing bullish sentiment around the stock. Here is Why Pinterest (PINS) is One of the Best Large Cap Stocks Under $30
• Neutral Sentiment: Director Benjamin Silbermann sold 46,875 shares in a pre-arranged Rule 10b5-1 plan, which may weigh on sentiment a bit but does not necessarily reflect a change in outlook. Insider Selling: Pinterest (NYSE:PINS) Director Sells 46,875 Shares of Stock
• Neutral Sentiment: Some recent commentary noted Pinterest had been under pressure after earnings, but the AWS expansion is now the more important near-term catalyst for the stock. Pinterest signs $4 billion Amazon deal for cloud services

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.