Sequoia Financial Advisors LLC Increases Stock Holdings in Pinterest, Inc. $PINS

Sequoia Financial Advisors LLC increased its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 52.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 11,565 shares of the company’s stock after acquiring an additional 3,997 shares during the period. Sequoia Financial Advisors LLC’s holdings in Pinterest were worth $415,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PINS. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Pinterest during the 1st quarter valued at approximately $25,000. Garde Capital Inc. purchased a new position in shares of Pinterest during the 1st quarter valued at approximately $26,000. West Branch Capital LLC purchased a new position in shares of Pinterest during the 2nd quarter valued at approximately $36,000. Golden State Wealth Management LLC raised its stake in Pinterest by 665.4% in the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company’s stock valued at $38,000 after purchasing an additional 1,058 shares during the last quarter. Finally, Mather Group LLC. raised its stake in Pinterest by 133.5% in the 1st quarter. Mather Group LLC. now owns 1,310 shares of the company’s stock valued at $41,000 after purchasing an additional 749 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Up 1.6%

Shares of PINS opened at $32.90 on Tuesday. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $40.90. The company has a market capitalization of $22.37 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.36 and a beta of 0.81. The stock has a fifty day simple moving average of $34.67 and a two-hundred day simple moving average of $33.24.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. Pinterest had a return on equity of 8.44% and a net margin of 49.31%.The business had revenue of $665.93 million during the quarter. As a group, equities analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on PINS. Barclays increased their price objective on Pinterest from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 8th. Mizuho began coverage on Pinterest in a research note on Monday, September 29th. They issued an “outperform” rating and a $50.00 price objective for the company. Wedbush increased their price objective on Pinterest from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Benchmark increased their price objective on Pinterest from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Morgan Stanley raised Pinterest from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $37.00 to $45.00 in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.67.

Insider Buying and Selling

In related news, CAO Andrea Acosta sold 3,759 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $34.96, for a total transaction of $131,414.64. Following the completion of the sale, the chief accounting officer directly owned 157,402 shares of the company’s stock, valued at approximately $5,502,773.92. This trade represents a 2.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the sale, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at $10,887,906.70. The trade was a 6.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 742,319 shares of company stock valued at $26,752,376 over the last 90 days. Insiders own 7.11% of the company’s stock.

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.