Pinterest, Inc. (NYSE:PINS) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,876 shares of the company's stock after selling 9,638 shares during the period. Corient Private Wealth LLC's holdings in Pinterest were worth $2,142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Maverick Capital Ltd. increased its position in Pinterest by 47.6% in the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company's stock valued at $1,851,000 after acquiring an additional 18,430 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Pinterest by 8.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company's stock worth $49,855,000 after acquiring an additional 119,367 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Pinterest by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company's stock worth $27,326,000 after acquiring an additional 32,539 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Pinterest by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company's stock valued at $137,669,000 after purchasing an additional 87,041 shares during the last quarter. Finally, Leibman Financial Services Inc. boosted its position in Pinterest by 102.2% during the fourth quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company's stock worth $1,862,000 after purchasing an additional 32,464 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.

Remove Ads

Pinterest Stock Performance

Shares of NYSE PINS traded down $0.76 during midday trading on Friday, reaching $31.49. The company's stock had a trading volume of 8,565,145 shares, compared to its average volume of 10,042,331. The company has a market cap of $21.35 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The business's 50 day moving average price is $34.64 and its two-hundred day moving average price is $32.35.

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 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%. Sell-side analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PINS shares. Wedbush raised their target price on shares of Pinterest from $38.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Monness Crespi & Hardt raised Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 price objective on the stock in a research note on Friday, January 10th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $32.00 price objective (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Piper Sandler reaffirmed a "neutral" rating and set a $41.00 price objective (up from $36.00) on shares of Pinterest in a report on Friday, February 7th. Finally, Wells Fargo & Company increased their price target on shares of Pinterest from $39.00 to $47.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.33.

Insider Buying and Selling

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was 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. The trade was a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the completion of the sale, the director now directly owns 29,086 shares in the company, 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 three months, insiders have sold 351,753 shares of company stock worth $11,640,201. 7.11% of the stock is owned by company insiders.

Pinterest Company 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.