Clearbridge Investments LLC reduced its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,603,664 shares of the company's stock after selling 431,286 shares during the quarter. Clearbridge Investments LLC owned 1.27% of Pinterest worth $249,506,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of PINS. Norges Bank bought a new position in Pinterest in the fourth quarter valued at approximately $358,205,000. Point72 Asset Management L.P. bought a new position in shares of Pinterest in the third quarter valued at $153,829,000. Schroder Investment Management Group raised its position in Pinterest by 357.5% during the fourth quarter. Schroder Investment Management Group now owns 2,719,355 shares of the company's stock worth $79,269,000 after acquiring an additional 2,125,010 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Pinterest in the fourth quarter valued at $61,261,000. Finally, Nordea Investment Management AB grew its position in shares of Pinterest by 122.1% in the 4th quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company's stock valued at $111,515,000 after acquiring an additional 2,093,248 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Barclays upped their price objective on shares of Pinterest from $36.00 to $42.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Raymond James upped their price target on shares of Pinterest from $34.00 to $42.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Oppenheimer raised their price objective on shares of Pinterest from $40.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Sanford C. Bernstein raised Pinterest from a "market perform" rating to an "outperform" rating and upped their target price for the company from $34.00 to $47.00 in a research report on Friday, February 7th. Finally, Guggenheim reissued a "buy" rating on shares of Pinterest in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $43.17.
Read Our Latest Stock Analysis on PINS
Pinterest Stock Down 5.7 %
Shares of PINS traded down $1.56 during mid-day trading on Friday, reaching $25.96. The company's stock had a trading volume of 8,633,292 shares, compared to its average volume of 10,162,843. The business has a fifty day moving average of $34.54 and a 200 day moving average of $32.40. Pinterest, Inc. has a 1 year low of $24.92 and a 1 year high of $45.19. The company has a market cap of $17.60 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99.
Pinterest (NYSE:PINS - Get Free Report) last announced 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, analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.
Insiders Place Their Bets
In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now directly owns 144,129 shares of the company's stock, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the sale, the director now owns 29,086 shares of the company's stock, valued at approximately $1,139,880.34. The trade was a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 453,836 shares of company stock worth $14,832,336. Corporate insiders own 7.11% of the company's stock.
About Pinterest
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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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