New York Life Investment Management LLC cut its position in Pinterest, Inc. (NYSE:PINS – Free Report) by 11.9% during the 4th quarter, HoldingsChannel reports. The firm owned 12,449 shares of the company’s stock after selling 1,686 shares during the quarter. New York Life Investment Management LLC’s holdings in Pinterest were worth $461,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently bought and sold shares of the company. ARK Investment Management LLC raised its position in shares of Pinterest by 152.3% during the 4th quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock worth $53,507,000 after buying an additional 872,016 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Pinterest by 57.9% in the 4th quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock worth $32,766,000 after purchasing an additional 323,547 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Pinterest by 3,402.0% in the 4th quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock worth $2,973,000 after purchasing an additional 77,974 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Pinterest by 53.1% in the 3rd quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock worth $84,826,000 after purchasing an additional 1,089,299 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Pinterest by 55.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock worth $6,477,000 after purchasing an additional 62,117 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.
Pinterest Stock Down 1.5 %
NYSE PINS opened at $42.01 on Friday. The stock has a market capitalization of $28.70 billion, a PE ratio of 200.03, a price-to-earnings-growth ratio of 4.12 and a beta of 0.99. The company has a 50 day moving average price of $35.40 and a two-hundred day moving average price of $35.01. Pinterest, Inc. has a 12-month low of $21.02 and a 12-month high of $42.95.
Pinterest (NYSE:PINS – Get Free Report) last posted its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. As a group, equities analysts anticipate that Pinterest, Inc. will post 0.43 EPS for the current year.
Insider Buying and Selling at Pinterest
In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction that occurred on Monday, April 15th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $35.08, for a total value of $701,600.00. Following the completion of the sale, the director now directly owns 34,215 shares in the company, valued at $1,200,262.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the sale, the director now owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The disclosure for this sale can be found here. Insiders sold 164,471 shares of company stock worth $5,773,431 over the last ninety days. 7.11% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several brokerages have recently issued reports on PINS. JPMorgan Chase & Co. lifted their price objective on shares of Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Citigroup lifted their price objective on shares of Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Sanford C. Bernstein lifted their price objective on shares of Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 1st. Roth Mkm lifted their price objective on shares of Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Argus raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Thursday, January 18th. Eight investment 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.26.
Read Our Latest Stock Report on Pinterest
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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