Pictet Asset Management Holding SA Sells 3,777,168 Shares of Pinterest, Inc. $PINS

Pictet Asset Management Holding SA cut its stake in Pinterest, Inc. (NYSE:PINS) by 93.5% in the first quarter, Holdings Channel.com reports. The firm owned 262,185 shares of the company’s stock after selling 3,777,168 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Pinterest were worth $4,806,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC acquired a new stake in shares of Pinterest in the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Pinterest by 2,017.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after buying an additional 1,049 shares during the period. Addison Advisors LLC boosted its position in shares of Pinterest by 727.3% during the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after buying an additional 1,200 shares during the period. Garner Asset Management Corp bought a new position in shares of Pinterest during the fourth quarter worth about $36,000. Finally, MidFirst Bank bought a new position in shares of Pinterest during the fourth quarter worth about $44,000. Institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In other Pinterest news, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $21.45, for a total transaction of $1,005,468.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gokul Rajaram sold 2,100 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total transaction of $42,000.00. Following the completion of the sale, the director owned 27,450 shares of the company’s stock, valued at approximately $549,000. This represents a 7.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 279,070 shares of company stock worth $5,817,283. Insiders own 8.09% of the company’s stock.

Pinterest Stock Down 0.1%

PINS stock opened at $22.06 on Friday. The company has a market cap of $12.35 billion, a price-to-earnings ratio of 45.95, a P/E/G ratio of 1.24 and a beta of 0.89. Pinterest, Inc. has a twelve month low of $13.84 and a twelve month high of $39.93. The business has a 50 day moving average price of $20.50 and a two-hundred day moving average price of $21.03. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The business’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 EPS. Analysts anticipate that Pinterest, Inc. will post 0.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group boosted their target price on Pinterest from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Robert W. Baird raised their price target on shares of Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Evercore set a $27.00 price objective on shares of Pinterest in a research report on Tuesday, May 5th. Rothschild & Co Redburn set a $23.00 price objective on shares of Pinterest and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Rosenblatt Securities increased their target price on shares of Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.40.

Pinterest Profile

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.