First Horizon Advisors Inc. Sells 1,424 Shares of Pinterest, Inc. (NYSE:PINS)

First Horizon Advisors Inc. decreased its holdings in Pinterest, Inc. (NYSE:PINS) by 20.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,552 shares of the company’s stock after selling 1,424 shares during the quarter. First Horizon Advisors Inc.’s holdings in Pinterest were worth $161,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sequoia Financial Advisors LLC lifted its stake in Pinterest by 5.2% during the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock worth $205,000 after purchasing an additional 313 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Pinterest by 3,154.6% in the 3rd quarter. International Assets Investment Management LLC now owns 29,845 shares of the company’s stock worth $922,000 after buying an additional 28,928 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Pinterest by 115.4% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 14,371 shares of the company’s stock worth $465,000 after buying an additional 7,700 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Pinterest by 174.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 84,440 shares of the company’s stock worth $2,743,000 after buying an additional 53,713 shares during the period. Finally, Forsta AP Fonden boosted its stake in Pinterest by 11.1% in the 3rd quarter. Forsta AP Fonden now owns 128,800 shares of the company’s stock valued at $4,169,000 after buying an additional 12,900 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Cantor Fitzgerald increased their price objective on Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Wedbush increased their target price on shares of Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays boosted their price target on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Oppenheimer raised their price objective on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. reduced their target price on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Eight investment 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.47.

Pinterest Stock Down 0.7 %

Shares of NYSE PINS opened at $36.69 on Wednesday. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The company’s fifty day moving average is $33.05 and its 200-day moving average is $31.94. The stock has a market cap of $24.89 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 1.95 and a beta of 1.06.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. On average, research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,117 shares of company stock worth $253,056 in the last 90 days. Corporate insiders own 7.11% of the company’s stock.

Pinterest 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.