Sumitomo Mitsui Trust Group Inc. Sells 356,834 Shares of Pinterest, Inc. (NYSE:PINS)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,587,655 shares of the company's stock after selling 356,834 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.83% of Pinterest worth $162,042,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PINS. Sequoia Financial Advisors LLC increased its position in shares of Pinterest by 5.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company's stock valued at $205,000 after purchasing an additional 313 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Pinterest by 3.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company's stock valued at $304,000 after purchasing an additional 339 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Pinterest by 2.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company's stock valued at $366,000 after purchasing an additional 342 shares during the last quarter. Commerce Bank raised its position in Pinterest by 3.3% in the 3rd quarter. Commerce Bank now owns 11,868 shares of the company's stock worth $384,000 after purchasing an additional 378 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock worth $31,000 after purchasing an additional 415 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

Insider Transactions at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the business's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now directly owns 246,921 shares of the company's stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the transaction, the director now directly owns 30,236 shares in the company, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock worth $589,131 in the last three months. Insiders own 7.11% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Roth Mkm cut their price target on shares of Pinterest from $39.00 to $33.00 and set a "neutral" rating on the stock in a report on Friday, November 8th. TD Cowen started coverage on shares of Pinterest in a research note on Tuesday, November 26th. They issued a "buy" rating and a $38.00 price target for the company. Guggenheim upped their target price on Pinterest from $33.00 to $39.00 and gave the stock a "neutral" rating in a report on Friday. Morgan Stanley raised their target price on Pinterest from $35.00 to $36.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group upped their price target on Pinterest from $42.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company's stock. According to MarketBeat.com, Pinterest presently has a consensus rating of "Moderate Buy" and an average target price of $43.86.

Pinterest Stock Up 0.0 %

PINS stock traded up $0.00 during trading on Tuesday, reaching $39.64. The company's stock had a trading volume of 14,901,071 shares, compared to its average volume of 12,995,244. The company's fifty day moving average is $31.61 and its 200-day moving average is $31.46. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The company has a market capitalization of $26.79 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share 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 9.20%. Analysts anticipate that Pinterest, Inc. will post 0.59 earnings per share 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.