Creative Planning Sells 2,115 Shares of Pinterest, Inc. (NYSE:PINS)

Creative Planning reduced its position in shares of Pinterest, Inc. (NYSE:PINS) by 4.3% in the third quarter, HoldingsChannel.com reports. The firm owned 46,839 shares of the company’s stock after selling 2,115 shares during the period. Creative Planning’s holdings in Pinterest were worth $1,503,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PINS. Exchange Traded Concepts LLC lifted its stake in Pinterest by 52.3% in the third quarter. Exchange Traded Concepts LLC now owns 12,295 shares of the company’s stock worth $398,000 after acquiring an additional 4,223 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in Pinterest by 500.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,200 shares of the company’s stock valued at $136,000 after purchasing an additional 3,500 shares during the period. Perpetual Ltd raised its holdings in Pinterest by 218.4% in the 3rd quarter. Perpetual Ltd now owns 35,030 shares of the company’s stock worth $1,134,000 after purchasing an additional 24,028 shares in the last quarter. CWM LLC lifted its position in shares of Pinterest by 91.5% in the 3rd quarter. CWM LLC now owns 66,685 shares of the company’s stock worth $2,159,000 after purchasing an additional 31,863 shares during the period. Finally, Leibman Financial Services Inc. boosted its stake in shares of Pinterest by 1.2% during the 3rd quarter. Leibman Financial Services Inc. now owns 31,758 shares of the company’s stock valued at $1,028,000 after purchasing an additional 368 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and issued a $45.00 price target on shares of Pinterest in a research note on Friday, September 13th. UBS Group decreased their target price on Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Rosenblatt Securities restated a “buy” rating and set a $48.00 price target on shares of Pinterest in a research report on Wednesday, July 31st. KeyCorp upped their price target on Pinterest from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird lowered their price objective on Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a research 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 company. According to data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and an average price target of $43.32.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the sale, the director now directly owns 33,686 shares of the company’s stock, valued at $1,129,154.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Stock Performance

NYSE PINS opened at $32.42 on Wednesday. Pinterest, Inc. has a one year low of $24.47 and a one year high of $45.19. The stock has a 50-day moving average of $31.73 and a 200 day moving average of $36.40. The company has a market capitalization of $22.15 billion, a price-to-earnings ratio of 154.38, a PEG ratio of 2.50 and a beta of 1.01.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 5.75% and a return on equity of 6.94%. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.04) earnings per share. On average, equities analysts predict that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

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.