Federated Hermes Inc. Sells 208,217 Shares of Pinterest, Inc. (NYSE:PINS)

Federated Hermes Inc. decreased its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 31.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 446,496 shares of the company’s stock after selling 208,217 shares during the period. Federated Hermes Inc. owned 0.07% of Pinterest worth $13,841,000 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 PINS. Revolve Wealth Partners LLC bought a new position in shares of Pinterest in the 4th quarter worth approximately $252,000. Blair William & Co. IL bought a new position in shares of Pinterest in the 4th quarter worth approximately $799,000. Orion Portfolio Solutions LLC raised its position in shares of Pinterest by 30.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 8,215 shares of the company’s stock worth $238,000 after acquiring an additional 1,909 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Pinterest in the 4th quarter worth approximately $279,000. Finally, Geode Capital Management LLC raised its position in shares of Pinterest by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,648,352 shares of the company’s stock worth $279,281,000 after acquiring an additional 181,767 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Activity

In other news, Director Benjamin Silbermann sold 408,332 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total value of $13,540,289.12. Following the transaction, the director directly owned 6,274 shares in the company, valued at $208,045.84. This trade represents a 98.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders sold 1,502,611 shares of company stock valued at $51,602,943. Company insiders own 7.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wells Fargo & Company set a $42.00 target price on Pinterest and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Oppenheimer upped their price target on Pinterest from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th. Barclays cut their price target on Pinterest from $42.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, May 9th. Raymond James Financial downgraded Pinterest from an “overweight” rating to a “market perform” rating in a research note on Monday, April 7th. Finally, Stifel Nicolaus upped their price target on Pinterest from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Five analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.48.

Pinterest Price Performance

PINS stock opened at $37.76 on Friday. The company has a market cap of $25.61 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 1.94 and a beta of 0.78. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90. The stock’s fifty day moving average price is $35.30 and its 200-day moving average price is $32.86.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $854.99 million during the quarter, compared to analysts’ expectations of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share. As a group, analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

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.