Metis Global Partners LLC lessened its holdings in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 13.1% during the 4th quarter, HoldingsChannel reports. The firm owned 10,178 shares of the company’s stock after selling 1,540 shares during the period. Metis Global Partners LLC’s holdings in Pinterest were worth $377,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of PINS. Cambridge Investment Research Advisors Inc. lifted its position in Pinterest by 5.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,809 shares of the company’s stock worth $1,157,000 after buying an additional 2,247 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Pinterest by 31.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 112,753 shares of the company’s stock valued at $3,048,000 after purchasing an additional 27,087 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Pinterest by 1.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,484,116 shares of the company’s stock worth $67,146,000 after purchasing an additional 39,431 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Pinterest by 9.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 109,903 shares of the company’s stock worth $2,971,000 after buying an additional 9,689 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Pinterest by 5.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 375,414 shares of the company’s stock worth $10,147,000 after acquiring an additional 18,408 shares during the period. 88.81% of the stock is owned by institutional investors.
Insider Activity at Pinterest
In other news, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, the insider now directly owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the sale, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the transaction, the insider now directly owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The disclosure for this sale can be found here. Insiders have sold a total of 164,471 shares of company stock worth $5,773,431 in the last 90 days. Company insiders own 7.11% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on PINS. Roth Mkm raised their target price on shares of Pinterest from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. KeyCorp dropped their target price on Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Rosenblatt Securities restated a “buy” rating and issued a $48.00 price objective (up from $45.00) on shares of Pinterest in a report on Wednesday, May 1st. Piper Sandler increased their price objective on shares of Pinterest from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Citigroup lifted their price objective on Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and a consensus price target of $41.26.
Read Our Latest Stock Analysis on Pinterest
Pinterest Stock Down 1.5 %
Pinterest stock opened at $42.00 on Friday. The firm has a fifty day simple moving average of $35.40 and a two-hundred day simple moving average of $35.07. Pinterest, Inc. has a twelve month low of $21.02 and a twelve month high of $42.95. The company has a market capitalization of $28.69 billion, a PE ratio of 200.01, a P/E/G ratio of 4.18 and a beta of 0.99.
Pinterest (NYSE:PINS – Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The business had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. As a group, equities analysts expect that Pinterest, Inc. will post 0.43 earnings per share for the current fiscal year.
About Pinterest
(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.
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