National Bank of Canada FI Reduces Holdings in Pinterest, Inc. (NYSE:PINS)

National Bank of Canada FI lowered its stake in Pinterest, Inc. (NYSE:PINS) by 95.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,032 shares of the company’s stock after selling 186,430 shares during the quarter. National Bank of Canada FI’s holdings in Pinterest were worth $346,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Hohimer Wealth Management LLC purchased a new stake in shares of Pinterest in the second quarter valued at $1,049,000. Midland Wealth Advisors LLC purchased a new position in Pinterest in the 2nd quarter valued at about $353,000. Generate Investment Management Ltd acquired a new stake in shares of Pinterest during the 2nd quarter worth about $11,001,000. Rhumbline Advisers grew its holdings in shares of Pinterest by 8.2% during the second quarter. Rhumbline Advisers now owns 929,561 shares of the company’s stock worth $40,966,000 after buying an additional 70,201 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Pinterest by 6.4% in the second quarter. CIBC Asset Management Inc now owns 20,152 shares of the company’s stock valued at $888,000 after buying an additional 1,212 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Trading Down 1.5 %

Shares of PINS stock opened at $28.86 on Friday. The firm has a fifty day simple moving average of $33.86 and a 200-day simple moving average of $36.95. The company has a market capitalization of $19.80 billion, a PE ratio of 137.44, a price-to-earnings-growth ratio of 3.26 and a beta of 1.00. Pinterest, Inc. has a twelve month low of $23.59 and a twelve 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 for the quarter, beating the consensus estimate of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The company had revenue of $853.68 million during the quarter, compared to the consensus estimate of $848.75 million. During the same period last year, the firm earned ($0.04) earnings per share. The company’s revenue was up 20.6% on a year-over-year basis. Equities research analysts predict that Pinterest, Inc. will post 0.39 EPS for the current year.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the completion of the sale, the chief financial officer now owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Pinterest news, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, 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.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company lowered their target price on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Barclays dropped their target price on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Piper Sandler reiterated an “overweight” rating and set a $45.00 target price on shares of Pinterest in a research report on Friday. Evercore ISI lowered their price target on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $48.00 price objective on shares of Pinterest in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.50.

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.