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EGOL has already covered this off nicely. I also have clients with lots of links from Pinterest and never seen a single issue. I would just continue doing as you are - I have also found Pinterest to be a great source of traffic for the right sites. -Andy

The 301 redirect is only temporary, so as the new Website that you're redirecting has been submitted to Google Search Console to be indexed (link: https://www.google.com/webmasters/tools/submit-url?authuser=1) you should be fine!

Hmm Riyaz, check what sources, locations, folders, etc. are changing and losing traffic over time. Losing traffic significantly because of changing the server settings is highly unlikely. It's probably caused by something else or a normal flow.

Thanks for the quick response. If hayacreations is ranking 19^th position in Google for a specific keyword, and ethniccode is ranking 30^th position for the same keyword, What would be impact after 301 redirect? Will hayacreations drop to 30^th position or existing position would improve because of link juice?

Google will still crawl and follow links on a page that has the tag "noindex" so long as it doesn't have the tag "nofollow". "nofollow" will tell Google not to pass any page authority / link juice. But if the page is just noindex'd, then Google will still pass link juice.