Mirae Asset Global Investments Co. Ltd. Sells 11,707 Shares of Pinterest, Inc. (NYSE:PINS)

Mirae Asset Global Investments Co. Ltd. trimmed its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 13.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 72,733 shares of the company's stock after selling 11,707 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Pinterest were worth $2,120,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Pinterest by 63.5% in the fourth 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 period. V Square Quantitative Management LLC bought a new stake in shares of Pinterest in the 3rd quarter valued at $37,000. Crewe Advisors LLC raised its position in shares of Pinterest by 91.1% during the third 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 period. True Wealth Design LLC lifted its stake in Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company's stock valued at $49,000 after buying an additional 1,487 shares in the last quarter. Finally, Rakuten Securities Inc. increased 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 in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on PINS shares. Sanford C. Bernstein upgraded shares of Pinterest from a "market perform" rating to an "outperform" rating and upped their price target for the company from $34.00 to $47.00 in a research note on Friday, February 7th. Stifel Nicolaus reiterated a "buy" rating and set a $50.00 price objective (up previously from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Wedbush upped their price target on shares of Pinterest from $38.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Benchmark raised shares of Pinterest from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a report on Friday, February 7th. Finally, Guggenheim lifted their price target on shares of Pinterest from $33.00 to $39.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $43.86.

Pinterest Stock Performance

Shares of NYSE:PINS traded down $0.08 during mid-day trading on Thursday, reaching $39.02. 9,014,488 shares of the company's stock were exchanged, compared to its average volume of 12,752,967. The firm has a market capitalization of $26.37 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.72 and a beta of 1.06. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The business's fifty day moving average price is $31.91 and its 200-day moving average price is $31.53.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 9.20% and a net margin of 51.07%. Analysts predict that Pinterest, Inc. will post 0.59 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the company's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the transaction, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. This represents a 2.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the transaction, the director now owns 32,536 shares of the company's stock, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,157 shares of company stock worth $589,131. Corporate insiders own 7.11% of the company's stock.

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.