Potrero Capital Research LLC Decreases Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Potrero Capital Research LLC decreased its holdings in Pinterest, Inc. (NYSE:PINS) by 56.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,475 shares of the company’s stock after selling 50,375 shares during the quarter. Potrero Capital Research LLC’s holdings in Pinterest were worth $2,848,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Eudaimonia Partners LLC purchased a new position in Pinterest in the 1st quarter worth about $25,000. Clearstead Advisors LLC raised its position in Pinterest by 412.9% in the 1st quarter. Clearstead Advisors LLC now owns 359 shares of the company’s stock worth $27,000 after buying an additional 289 shares during the last quarter. Total Clarity Wealth Management Inc. purchased a new position in Pinterest in the 1st quarter worth about $28,000. Parkside Financial Bank & Trust raised its position in Pinterest by 159.5% in the 1st quarter. Parkside Financial Bank & Trust now owns 436 shares of the company’s stock worth $32,000 after buying an additional 268 shares during the last quarter. Finally, First PREMIER Bank purchased a new position in Pinterest in the 1st quarter worth about $37,000. 61.06% of the stock is owned by institutional investors and hedge funds.

In other news, insider Evan Sharp sold 69,194 shares of the stock in a transaction on Monday, July 19th. The stock was sold at an average price of $66.88, for a total transaction of $4,627,694.72. Following the transaction, the insider now owns 69,194 shares of the company’s stock, valued at approximately $4,627,694.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Naveen Gavini sold 8,742 shares of the stock in a transaction on Wednesday, May 12th. The stock was sold at an average price of $57.32, for a total value of $501,091.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 965,462 shares of company stock worth $67,481,707. Insiders own 8.45% of the company’s stock.

Several equities research analysts have recently commented on PINS shares. Bank of America reaffirmed a “neutral” rating and set a $78.00 price target (down previously from $94.00) on shares of Pinterest in a research report on Monday, March 29th. Piper Sandler reduced their price target on shares of Pinterest from $85.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, April 28th. Evercore ISI started coverage on shares of Pinterest in a research report on Tuesday, April 13th. They set an “outperform” rating and a $97.00 price target for the company. Morgan Stanley reduced their price target on shares of Pinterest from $89.00 to $83.00 and set an “overweight” rating for the company in a research report on Wednesday, April 28th. Finally, Rosenblatt Securities reduced their price target on shares of Pinterest from $90.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, April 28th. Eleven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $80.45.

PINS stock traded down $0.51 during midday trading on Thursday, reaching $71.72. The company’s stock had a trading volume of 78,482 shares, compared to its average volume of 8,238,455. The company’s fifty day moving average price is $69.33. Pinterest, Inc. has a 1 year low of $23.56 and a 1 year high of $89.90. The stock has a market cap of $45.68 billion, a price-to-earnings ratio of -1,207.50 and a beta of 1.26.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, April 27th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.19. Pinterest had a positive return on equity of 4.86% and a negative net margin of 0.46%. The business had revenue of $485.23 million for the quarter, compared to analyst estimates of $471.49 million. During the same quarter last year, the firm posted ($0.10) earnings per share. The business’s revenue was up 78.4% compared to the same quarter last year. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.09 EPS for the current year.

About Pinterest

Pinterest, Inc provides visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others. It shows them visual recommendations based on people personal taste and interests.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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