Allspring Global Investments Holdings LLC Sells 73,260 Shares of Pinterest, Inc. (NYSE:PINS)

Allspring Global Investments Holdings LLC trimmed its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 653,019 shares of the company's stock after selling 73,260 shares during the period. Allspring Global Investments Holdings LLC owned 0.10% of Pinterest worth $19,898,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in 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 purchasing an additional 415 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Pinterest during the 3rd quarter worth approximately $37,000. Crewe Advisors LLC lifted its holdings in Pinterest by 91.1% during the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company's stock worth $37,000 after purchasing an additional 550 shares during the last quarter. True Wealth Design LLC lifted its holdings in Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company's stock worth $49,000 after purchasing an additional 1,487 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its holdings in Pinterest by 44.2% during the 3rd quarter. Rakuten Securities Inc. now owns 2,294 shares of the company's stock worth $74,000 after purchasing an additional 703 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the transaction, the insider now directly owns 246,921 shares of the company's stock, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total value of $35,627.00. Following the transaction, the director now directly owns 31,386 shares in the company, valued at $972,338.28. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock worth $600,010 in the last 90 days. Insiders own 7.11% of the company's stock.

Pinterest Price Performance

PINS stock traded up $0.97 during midday trading on Thursday, reaching $39.66. 11,977,019 shares of the stock were exchanged, compared to its average volume of 12,332,397. The stock has a market capitalization of $26.90 billion, a PE ratio of 14.74, a P/E/G ratio of 1.93 and a beta of 1.06. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The company has a fifty day moving average price of $32.60 and a 200 day moving average price of $31.72.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. As a group, analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Robert W. Baird dropped their price target on Pinterest from $41.00 to $36.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Rosenblatt Securities lifted their price target on Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Barclays lifted their price target on Pinterest from $36.00 to $42.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Cantor Fitzgerald raised their price objective on Pinterest from $36.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. lowered their price objective on Pinterest from $38.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.86.

About Pinterest

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.