Zevenbergen Capital Investments LLC Reduces Stock Position in Pinterest, Inc. $PINS

Zevenbergen Capital Investments LLC lessened its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 9.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 386,870 shares of the company’s stock after selling 39,625 shares during the period. Zevenbergen Capital Investments LLC owned about 0.06% of Pinterest worth $12,446,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Renaissance Group LLC raised its holdings in Pinterest by 4.5% in the 2nd quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock worth $36,548,000 after purchasing an additional 43,541 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Pinterest by 243.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock valued at $2,490,000 after buying an additional 49,204 shares during the period. Norges Bank bought a new position in Pinterest in the second quarter worth about $477,853,000. KLP Kapitalforvaltning AS raised its stake in Pinterest by 8.0% in the second quarter. KLP Kapitalforvaltning AS now owns 412,200 shares of the company’s stock worth $14,781,000 after buying an additional 30,500 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in Pinterest by 101.2% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 108,064 shares of the company’s stock worth $3,875,000 after buying an additional 54,365 shares during the period. Institutional investors own 88.81% of the company’s stock.

Pinterest Trading Down 0.6%

NYSE PINS opened at $26.08 on Friday. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90. The stock’s fifty day moving average price is $28.65 and its 200-day moving average price is $33.14. The stock has a market cap of $17.62 billion, a P/E ratio of 9.06, a P/E/G ratio of 1.66 and a beta of 0.89.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The company had revenue of $665.93 million for the quarter. As a group, analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total value of $795,311.85. Following the sale, the chief financial officer owned 312,422 shares in the company, valued at approximately $10,887,906.70. This represents a 6.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 198,959 shares of company stock worth $6,345,304. Corporate insiders own 7.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PINS. Roth Capital reduced their target price on Pinterest from $39.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Wall Street Zen downgraded Pinterest from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Guggenheim lowered their price objective on Pinterest from $44.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. The Goldman Sachs Group reduced their target price on shares of Pinterest from $43.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, Wells Fargo & Company decreased their price target on shares of Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.97.

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.