Federated Hermes Inc. Sells 240,068 Shares of Pinterest, Inc. (NYSE:PINS)

Federated Hermes Inc. trimmed its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 15.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,297,473 shares of the company’s stock after selling 240,068 shares during the period. Federated Hermes Inc. owned approximately 0.19% of Pinterest worth $57,180,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Wellington Shields Capital Management LLC bought a new position in Pinterest in the 2nd quarter valued at approximately $26,000. Hexagon Capital Partners LLC lifted its holdings in shares of Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares during the last quarter. Rothschild Investment LLC bought a new stake in Pinterest in the 2nd quarter worth about $35,000. Finally, International Assets Investment Management LLC purchased a new position in Pinterest in the 2nd quarter worth about $40,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Stock Down 1.5 %

Shares of PINS opened at $28.86 on Friday. The stock has a market cap of $19.80 billion, a price-to-earnings ratio of 137.44, a P/E/G ratio of 3.26 and a beta of 1.00. Pinterest, Inc. has a 12 month low of $23.59 and a 12 month high of $45.19. The company has a 50-day moving average price of $33.86 and a two-hundred day moving average price of $36.95.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) earnings per share. Equities research analysts expect that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity at Pinterest

In related news, CAO Andrea Acosta sold 2,564 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the sale, the chief accounting officer now owns 186,906 shares of the company’s stock, valued at $8,410,770. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the completion of the sale, the chief financial officer now owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Andrea Acosta sold 2,564 shares of Pinterest stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the sale, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on PINS. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a report on Thursday. Barclays cut their target price on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Evercore ISI decreased their price target on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Wedbush cut their price objective on shares of Pinterest from $46.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Finally, Morgan Stanley raised their target price on Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

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.