ClariVest Asset Management LLC Sells 426 Shares of Pinterest, Inc. (NYSE:PINS)

ClariVest Asset Management LLC decreased its holdings in Pinterest, Inc. (NYSE:PINS) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,275 shares of the company’s stock after selling 426 shares during the quarter. ClariVest Asset Management LLC’s holdings in Pinterest were worth $1,599,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Shields Capital Management LLC bought a new stake in shares of Pinterest in the 2nd quarter valued at about $26,000. Hexagon Capital Partners LLC lifted its stake in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after acquiring an additional 459 shares during the period. GAMMA Investing LLC boosted its holdings in Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after acquiring an additional 405 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Pinterest during the 2nd quarter valued at approximately $35,000. Finally, International Assets Investment Management LLC bought a new position in Pinterest during the 2nd quarter worth approximately $40,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PINS shares. KeyCorp decreased their price objective on shares of Pinterest from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Cantor Fitzgerald initiated coverage on Pinterest in a research report on Thursday, September 5th. They issued an “overweight” rating and a $41.00 price objective for the company. Susquehanna cut their target price on Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $52.00 target price on shares of Pinterest in a report on Monday, July 29th. Finally, Raymond James cut their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and an average target price of $42.65.

Pinterest Trading Up 0.3 %

Shares of PINS opened at $29.22 on Thursday. The stock has a 50 day moving average of $34.43 and a 200 day moving average of $37.06. The company has a market capitalization of $20.05 billion, a price-to-earnings ratio of 139.15, a PEG ratio of 3.26 and a beta of 1.00. Pinterest, Inc. has a 12 month low of $23.59 and a 12 month high of $45.19.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The business’s revenue was up 20.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) EPS. As a group, equities research analysts predict that Pinterest, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the transaction, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the transaction, the chief accounting officer now owns 186,906 shares in the company, valued at approximately $8,410,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the sale, the chief financial officer now owns 362,822 shares in the company, valued at $16,102,040.36. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by corporate insiders.

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.