Union Bancaire Privee UBP SA Sells 617,182 Shares of Pinterest, Inc. $PINS

Union Bancaire Privee UBP SA trimmed its position in Pinterest, Inc. (NYSE:PINS) by 96.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 20,756 shares of the company’s stock after selling 617,182 shares during the period. Union Bancaire Privee UBP SA’s holdings in Pinterest were worth $381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Snowden Capital Advisors LLC grew its holdings in Pinterest by 4.4% in 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 last quarter. EP Wealth Advisors LLC raised its stake in shares of Pinterest by 3.9% during the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock valued at $340,000 after acquiring an additional 358 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Pinterest by 0.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 95,960 shares of the company’s stock valued at $2,484,000 after acquiring an additional 464 shares during the last quarter. Simon Quick Advisors LLC boosted its holdings in shares of Pinterest by 5.5% during the fourth quarter. Simon Quick Advisors LLC now owns 10,237 shares of the company’s stock worth $265,000 after purchasing an additional 535 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of Pinterest by 2.2% during the fourth quarter. CIBC Asset Management Inc now owns 26,434 shares of the company’s stock worth $684,000 after purchasing an additional 560 shares during the period. 88.81% of the stock is currently owned by institutional investors.

Pinterest Trading Down 0.1%

Shares of PINS opened at $20.79 on Monday. Pinterest, Inc. has a 1-year low of $13.84 and a 1-year 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 firm’s 50-day moving average price is $20.37 and its 200-day moving average price is $21.17. The firm has a market capitalization of $11.65 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 1.19 and a beta of 0.92.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) 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 company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. During the same period in the prior year, the firm earned $0.23 earnings per share. Pinterest’s revenue was up 17.8% on a year-over-year basis. Sell-side analysts anticipate that Pinterest, Inc. will post 0.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price target on Pinterest from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Evercore set a $27.00 price objective on Pinterest in a report on Tuesday, May 5th. Argus lowered Pinterest from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. Rosenblatt Securities lifted their price objective on Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Finally, TD Cowen reissued a “buy” rating on shares of Pinterest in a research note on Monday, June 22nd. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.40.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 2,100 shares of Pinterest stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the sale, the director directly owned 27,450 shares in the company, valued at $549,000. The trade was a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 Pinterest stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $19.99, for a total value of $937,031.25. 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. In the last quarter, insiders have sold 232,195 shares of company stock worth $4,811,815. Company insiders own 8.09% of the company’s stock.

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.