Neuberger Berman Group LLC cut its stake in Pinterest, Inc. (NYSE:PINS – Free Report) by 10.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,513 shares of the company’s stock after selling 3,945 shares during the quarter. Neuberger Berman Group LLC’s holdings in Pinterest were worth $1,278,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in Pinterest by 9.1% in the third quarter. Principal Financial Group Inc. now owns 496,461 shares of the company’s stock worth $13,419,000 after purchasing an additional 41,495 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Pinterest by 6.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 148,546 shares of the company’s stock worth $4,015,000 after acquiring an additional 9,000 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Pinterest by 0.3% during the 3rd quarter. Victory Capital Management Inc. now owns 273,761 shares of the company’s stock worth $7,400,000 after acquiring an additional 872 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Pinterest during the third quarter valued at approximately $1,387,000. Finally, Donoghue Forlines LLC acquired a new stake in Pinterest in the third quarter valued at approximately $230,000. 88.81% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. Royal Bank of Canada raised their price objective on Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Stifel Nicolaus boosted their price target on Pinterest from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Piper Sandler restated an “overweight” rating and set a $52.00 price objective (up previously from $50.00) on shares of Pinterest in a report on Thursday. Wells Fargo & Company lifted their target price on shares of Pinterest from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Loop Capital upped their price target on shares of Pinterest from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.34.
View Our Latest Stock Report on PINS
Pinterest Stock Up 0.3 %
NYSE:PINS opened at $41.44 on Monday. Pinterest, Inc. has a 52 week low of $23.35 and a 52 week high of $43.12. The stock’s 50-day moving average price is $36.78 and its 200-day moving average price is $36.10. The stock has a market capitalization of $28.31 billion, a PE ratio of 197.34, a price-to-earnings-growth ratio of 4.13 and a beta of 0.99.
Pinterest (NYSE:PINS – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.05. The company had revenue of $739.98 million for the quarter, compared to analyst estimates of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. Sell-side analysts expect that Pinterest, Inc. will post 0.43 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the transaction, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the transaction, the chief financial officer now owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the sale, the director now directly owns 31,646 shares in the company, valued at $1,055,077.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 166,405 shares of company stock valued at $5,855,142. 7.11% of the stock is owned by corporate insiders.
Pinterest Profile
(Free Report)
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.
See Also
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