Legal & General Group Plc Sells 834,028 Shares of Pinterest, Inc. (NYSE:PINS)

Legal & General Group Plc trimmed its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 18.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,640,564 shares of the company's stock after selling 834,028 shares during the period. Legal & General Group Plc owned 0.54% of Pinterest worth $105,576,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PINS. FMR LLC grew its position in shares of Pinterest by 2.6% in the fourth quarter. FMR LLC now owns 12,599,356 shares of the company's stock valued at $365,381,000 after purchasing an additional 316,633 shares during the last quarter. Norges Bank bought a new stake in Pinterest during the 4th quarter valued at approximately $358,205,000. Geode Capital Management LLC grew its holdings in Pinterest by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,648,352 shares of the company's stock valued at $279,281,000 after buying an additional 181,767 shares during the last quarter. Ninety One UK Ltd increased its position in Pinterest by 5.4% in the 4th quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company's stock worth $158,677,000 after buying an additional 278,362 shares during the period. Finally, ARK Investment Management LLC lifted its holdings in shares of Pinterest by 0.4% during the fourth quarter. ARK Investment Management LLC now owns 4,386,546 shares of the company's stock worth $127,210,000 after buying an additional 17,997 shares during the last quarter. Institutional investors own 88.81% of the company's stock.

Insider Buying and Selling

In other news, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction dated Monday, March 10th. The shares were 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 owns 254,211 shares of the company's stock, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the sale, the chief accounting officer now directly owns 144,129 shares in the company, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 452,686 shares of company stock worth $14,797,342. Corporate insiders own 7.11% of the company's stock.

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Pinterest Trading Down 0.4 %

NYSE PINS traded down $0.11 during trading on Wednesday, reaching $25.88. The company's stock had a trading volume of 1,775,922 shares, compared to its average volume of 12,470,356. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $45.19. The firm has a 50 day moving average price of $33.12 and a 200 day moving average price of $32.07. The firm has a market capitalization of $17.55 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 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%. On average, equities analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PINS shares. Royal Bank of Canada increased their price target on shares of Pinterest from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Bank of America cut their price target on Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Guggenheim reissued a "buy" rating on shares of Pinterest in a report on Tuesday, April 1st. Barclays upped their target price on Pinterest from $36.00 to $42.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Finally, Cantor Fitzgerald lifted their price target on shares of Pinterest from $36.00 to $48.00 and gave the stock an "overweight" rating in a research note 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 company. According to data from MarketBeat, Pinterest currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.81.

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.