Pinterest, Inc. (NYSE:PINS) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 30.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,609,483 shares of the company's stock after selling 1,140,604 shares during the period. Pictet Asset Management Holding SA owned 0.39% of Pinterest worth $75,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Maverick Capital Ltd. grew its position in Pinterest by 47.6% during the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company's stock valued at $1,851,000 after buying an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Pinterest by 8.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company's stock valued at $49,855,000 after purchasing an additional 119,367 shares during the period. Leibman Financial Services Inc. lifted its stake in Pinterest by 102.2% in the 4th quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company's stock valued at $1,862,000 after buying an additional 32,464 shares in the last quarter. Janney Capital Management LLC acquired a new stake in Pinterest in the 4th quarter worth about $4,289,000. Finally, Jones Financial Companies Lllp increased its stake in Pinterest by 91.3% during the 4th quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company's stock worth $725,000 after buying an additional 11,925 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

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Pinterest Stock Performance

Shares of NYSE:PINS traded down $4.13 on Thursday, hitting $27.25. 9,867,103 shares of the company's stock were exchanged, compared to its average volume of 10,091,654. The company has a market capitalization of $18.48 billion, a PE ratio of 10.13, a P/E/G ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 1-year low of $26.96 and a 1-year high of $45.19. The firm's 50-day moving average is $34.64 and its 200 day moving average is $32.43.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results 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, analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PINS has been the topic of a number of research analyst reports. 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. Oppenheimer lifted their target price on shares of Pinterest from $40.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. The Goldman Sachs Group increased their target price on shares of Pinterest from $42.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Rosenblatt Securities boosted 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. Finally, Sanford C. Bernstein upgraded shares of Pinterest from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $34.00 to $47.00 in a report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, Pinterest has an average rating of "Moderate Buy" and an average target price of $43.17.

Insider Buying and Selling

In other Pinterest news, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the sale, the insider now owns 254,211 shares of the company's stock, valued at approximately $8,350,831.35. The trade was a 2.56 % decrease in their position. The sale was disclosed in a document filed 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 value of $137,365.82. Following the completion of the sale, the chief accounting officer now owns 144,129 shares in the company, valued at approximately $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. Insiders sold a total of 351,753 shares of company stock worth $11,640,201 in the last 90 days. Company insiders own 7.11% of the company's stock.

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.