GPS Wealth Strategies Group LLC Sells 400 Shares of Pinterest, Inc. (NYSE:PINS)

GPS Wealth Strategies Group LLC reduced its stake in shares of Pinterest, Inc. (NYSE:PINS) by 11.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,116 shares of the company’s stock after selling 400 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Pinterest were worth $97,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp raised its holdings in Pinterest by 91.3% during the 4th quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company’s stock valued at $725,000 after buying an additional 11,925 shares during the period. Savant Capital LLC boosted its stake in Pinterest by 47.0% during the fourth quarter. Savant Capital LLC now owns 15,094 shares of the company’s stock worth $438,000 after buying an additional 4,827 shares during the period. Revolve Wealth Partners LLC bought a new position in Pinterest during the fourth quarter valued at $252,000. US Bancorp DE raised its stake in shares of Pinterest by 27.2% in the fourth quarter. US Bancorp DE now owns 23,698 shares of the company’s stock valued at $687,000 after acquiring an additional 5,063 shares during the period. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Pinterest by 51.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after acquiring an additional 590 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Stock Performance

Shares of PINS opened at $33.78 on Friday. The business’s 50-day moving average is $29.29 and its two-hundred day moving average is $31.48. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The company has a market capitalization of $22.91 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.95 and a beta of 0.91.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The firm had revenue of $854.99 million for the quarter, compared to analysts’ expectations of $848.49 million. During the same period in the previous year, the company earned $0.17 earnings per share. The company’s revenue was up 15.5% compared to the same quarter last year. Analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Buying and Selling

In related news, CAO Andrea Acosta sold 3,759 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $31.86, for a total value of $119,761.74. Following the transaction, the chief accounting officer now directly owns 171,373 shares of the company’s stock, valued at approximately $5,459,943.78. This trade represents a 2.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total transaction of $31,050.00. Following the completion of the transaction, the director now directly owns 26,786 shares in the company, valued at $723,222. This represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,177,104 shares of company stock valued at $38,592,423. 7.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on PINS shares. Wedbush reissued an “outperform” rating and issued a $40.00 price objective (up from $38.00) on shares of Pinterest in a research report on Friday, May 9th. Wells Fargo & Company lowered their price objective on shares of Pinterest from $47.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Barclays cut their price objective on shares of Pinterest from $42.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, May 9th. Morgan Stanley lifted their price objective on shares of Pinterest from $28.00 to $37.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. Finally, Monness Crespi & Hardt cut their price target on shares of Pinterest from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Six research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and an average price target of $40.42.

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.