Alliancebernstein L.P. Cuts Position in Pinterest, Inc. (NYSE:PINS)

Alliancebernstein L.P. cut its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 47.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 580,427 shares of the company's stock after selling 519,845 shares during the period. Alliancebernstein L.P. owned approximately 0.09% of Pinterest worth $16,832,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PINS. Whipplewood Advisors LLC purchased a new position in shares of Pinterest in the fourth quarter worth about $28,000. GAMMA Investing LLC increased its holdings in shares of Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock worth $31,000 after buying an additional 415 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of Pinterest by 51.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock valued at $50,000 after buying an additional 590 shares during the period. Manchester Capital Management LLC lifted its holdings in Pinterest by 17,692.3% in the fourth quarter. Manchester Capital Management LLC now owns 2,313 shares of the company's stock valued at $67,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Pinterest by 20.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,564 shares of the company's stock worth $75,000 after acquiring an additional 429 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now owns 144,129 shares of the company's stock, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now directly owns 30,236 shares of the company's stock, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 453,836 shares of company stock worth $14,832,336. 7.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PINS has been the topic of several recent analyst reports. Raymond James lowered Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. Wells Fargo & Company lowered their target price on shares of Pinterest from $47.00 to $42.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Monness Crespi & Hardt raised shares of Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 price target on the stock in a research note on Friday, January 10th. The Goldman Sachs Group boosted their target price on Pinterest from $42.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, Sanford C. Bernstein upgraded Pinterest from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $34.00 to $47.00 in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $42.23.

Pinterest Stock Up 0.1 %

NYSE:PINS traded up $0.02 during trading hours on Monday, reaching $26.39. 1,091,266 shares of the company's stock were exchanged, compared to its average volume of 10,403,716. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $45.19. The firm has a market capitalization of $17.90 billion, a price-to-earnings ratio of 9.81, a P/E/G ratio of 1.95 and a beta of 0.99. The company has a 50-day moving average of $33.42 and a 200 day moving average of $32.16.

Pinterest (NYSE:PINS - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Pinterest 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.