Royal London Asset Management Ltd. Lowers Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Royal London Asset Management Ltd. reduced its position in Pinterest, Inc. (NYSE:PINS) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,353 shares of the company’s stock after selling 12,974 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Pinterest were worth $11,694,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Leibman Financial Services Inc. raised its stake in shares of Pinterest by 0.9% in the second quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock valued at $1,383,000 after acquiring an additional 266 shares in the last quarter. Raymond James Trust N.A. raised its position in Pinterest by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after purchasing an additional 319 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Pinterest by 40.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock valued at $48,000 after buying an additional 378 shares during the period. GAMMA Investing LLC grew its position in shares of Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its position in shares of Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after buying an additional 459 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the sale, the chief financial officer now owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at approximately $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 Trading Up 0.3 %

NYSE:PINS opened at $29.31 on Friday. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19. The stock’s 50 day simple moving average is $34.15 and its 200-day simple moving average is $37.00. The firm has a market cap of $20.02 billion, a P/E ratio of 139.57, a PEG ratio of 3.26 and a beta of 1.00.

Pinterest (NYSE:PINS) last announced its quarterly earnings data 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. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The company had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. During the same period in the previous year, the company posted ($0.04) EPS. Pinterest’s revenue was up 20.6% compared to the same quarter last year. Research analysts forecast that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PINS. Wedbush decreased their price target on shares of Pinterest from $46.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Cantor Fitzgerald assumed coverage on shares of Pinterest in a research report on Thursday, September 5th. They set an “overweight” rating and a $41.00 price objective for the company. Stifel Nicolaus dropped their target price on Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. UBS Group decreased their price target on Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Piper Sandler dropped their price objective on Pinterest from $52.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.