Ossiam cut its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,429,471 shares of the company's stock after selling 10,446 shares during the quarter. Ossiam owned 0.21% of Pinterest worth $41,455,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in PINS. FMR LLC raised its position in Pinterest by 2.6% during the fourth quarter. FMR LLC now owns 12,599,356 shares of the company's stock worth $365,381,000 after acquiring an additional 316,633 shares during the period. Norges Bank acquired a new position in shares of Pinterest during the 4th quarter worth about $358,205,000. Marshall Wace LLP lifted its stake in Pinterest by 134.1% in the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock valued at $310,352,000 after buying an additional 6,129,985 shares in the last quarter. Geode Capital Management LLC boosted 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 worth $279,281,000 after buying an additional 181,767 shares during the last quarter. Finally, Ninety One UK Ltd increased its stake in Pinterest by 5.4% during 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 in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, Director Jeremy S. Levine sold 50,535 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $33.98, for a total transaction of $1,717,179.30. Following the sale, the director now owns 1,156,693 shares of the company's stock, valued at approximately $39,304,428.14. This trade represents a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the sale, the director now directly owns 6,274 shares in the company, valued at approximately $196,187.98. The trade was a 94.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 452,686 shares of company stock worth $14,797,342. Company insiders own 7.11% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on PINS shares. Barclays lifted their price target on Pinterest from $36.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Guggenheim reaffirmed a "buy" rating on shares of Pinterest in a report on Tuesday, April 1st. Jefferies Financial Group reissued a "hold" rating and issued a $32.00 price target (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Royal Bank of Canada upped their price objective on shares of Pinterest from $48.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Benchmark raised shares of Pinterest from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.10.
Check Out Our Latest Stock Report on PINS
Pinterest Stock Performance
Shares of NYSE:PINS traded up $0.13 during trading on Thursday, hitting $25.74. The company's stock had a trading volume of 8,889,462 shares, compared to its average volume of 10,546,433. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The business has a 50 day moving average price of $31.40 and a two-hundred day moving average price of $31.75. The company has a market capitalization of $17.46 billion, a PE ratio of 9.58, a P/E/G ratio of 1.95 and a beta of 0.99.
Pinterest (NYSE:PINS - Get Free Report) last released its 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 return on equity of 8.10% and a net margin of 51.07%. As a group, equities analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.
About Pinterest
(
Free Report)
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.
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