Bronte Capital Management Pty Ltd. Cuts Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Bronte Capital Management Pty Ltd. reduced its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 23.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 849,920 shares of the company's stock after selling 267,065 shares during the period. Pinterest accounts for 3.6% of Bronte Capital Management Pty Ltd.'s holdings, making the stock its 8th biggest holding. Bronte Capital Management Pty Ltd. owned 0.13% of Pinterest worth $24,648,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Atria Investments Inc lifted its holdings in shares of Pinterest by 4.0% in the 3rd quarter. Atria Investments Inc now owns 26,686 shares of the company's stock worth $864,000 after purchasing an additional 1,034 shares in the last quarter. Covestor Ltd raised its holdings in Pinterest by 36.1% during the third quarter. Covestor Ltd now owns 4,678 shares of the company's stock worth $151,000 after buying an additional 1,241 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in shares of Pinterest by 9.5% in the third quarter. Axxcess Wealth Management LLC now owns 6,965 shares of the company's stock valued at $225,000 after buying an additional 605 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Pinterest by 0.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 220,744 shares of the company's stock valued at $7,145,000 after buying an additional 1,069 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Pinterest by 8.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company's stock worth $192,423,000 after acquiring an additional 460,708 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

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Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 6,690 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the transaction, the insider now directly owns 254,211 shares in the company, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were 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 in the company, valued at approximately $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,879 shares of company stock worth $3,653,577 in the last ninety days. 7.11% of the stock is currently owned by insiders.

Pinterest Stock Performance

PINS stock traded down $2.28 during midday trading on Thursday, reaching $31.00. 17,008,509 shares of the company's stock traded hands, compared to its average volume of 9,753,077. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The company has a 50-day moving average price of $34.32 and a two-hundred day moving average price of $32.27. The firm has a market capitalization of $21.03 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) 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 predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PINS. The Goldman Sachs Group lifted their price target on Pinterest from $42.00 to $47.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Royal Bank of Canada lifted their target price on Pinterest from $48.00 to $50.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Benchmark raised Pinterest from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a research report on Friday, February 7th. Cantor Fitzgerald raised their price objective on Pinterest from $36.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Finally, Guggenheim upped their target price on shares of Pinterest from $33.00 to $39.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.47.

Pinterest Company 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.