Pinterest, Inc. (NYSE:PINS) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lowered its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,197,373 shares of the company's stock after selling 291,324 shares during the period. Pinterest comprises 1.3% of Nikko Asset Management Americas Inc.'s investment portfolio, making the stock its 19th biggest position. Nikko Asset Management Americas Inc. owned about 0.62% of Pinterest worth $121,724,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clearwater Capital Advisors LLC boosted its position in Pinterest by 25.1% during the fourth quarter. Clearwater Capital Advisors LLC now owns 16,148 shares of the company's stock worth $468,000 after acquiring an additional 3,235 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Pinterest by 4.3% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 51,712 shares of the company's stock worth $1,500,000 after purchasing an additional 2,138 shares during the last quarter. Natixis Advisors LLC raised its holdings in Pinterest by 16.5% in the 4th quarter. Natixis Advisors LLC now owns 124,799 shares of the company's stock valued at $3,619,000 after buying an additional 17,669 shares during the period. Monimus Capital Management LP acquired a new position in Pinterest in the fourth quarter valued at about $1,619,000. Finally, Poinciana Advisors Group LLC purchased a new position in Pinterest during the fourth quarter worth about $267,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,150 shares of the business'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 sale, the director now directly owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares of the company's stock, 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 ninety days, insiders have sold 207,812 shares of company stock worth $6,798,857. Corporate insiders own 7.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PINS. Oppenheimer upped their price target on Pinterest from $40.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Rosenblatt Securities increased their price target on shares of Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Benchmark upgraded 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. Stifel Nicolaus reiterated a "buy" rating and set a $50.00 target price (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. Finally, Royal Bank of Canada raised their price target on shares of Pinterest from $48.00 to $50.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. According to MarketBeat, Pinterest has an average rating of "Moderate Buy" and a consensus target price of $43.30.

Pinterest Trading Up 3.3 %

Shares of Pinterest stock traded up $1.03 on Friday, reaching $32.45. 15,160,111 shares of the stock were exchanged, compared to its average volume of 9,880,411. The firm has a market capitalization of $22.01 billion, a PE ratio of 12.06, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The business has a fifty day moving average price of $34.35 and a two-hundred day moving average price of $32.27.

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

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.