Pinterest, Inc. (NYSE:PINS) Stock Holdings Reduced by First Trust Advisors LP

First Trust Advisors LP cut its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 81.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 493,564 shares of the company's stock after selling 2,200,060 shares during the period. First Trust Advisors LP owned 0.07% of Pinterest worth $14,313,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PINS. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Pinterest by 2.8% in the fourth 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 acquiring an additional 342 shares during the last quarter. Ethos Financial Group LLC raised its holdings in shares of Pinterest by 3.1% during the 4th quarter. Ethos Financial Group LLC now owns 11,803 shares of the company's stock valued at $342,000 after purchasing an additional 350 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Pinterest by 0.9% in the 4th quarter. Amalgamated Bank now owns 39,792 shares of the company's stock valued at $1,154,000 after purchasing an additional 372 shares during the last quarter. GAMMA Investing LLC boosted its holdings 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 in the last quarter. Finally, Steph & Co. boosted its holdings in Pinterest by 6.4% in the fourth quarter. Steph & Co. now owns 7,048 shares of the company's stock worth $204,000 after purchasing an additional 425 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PINS shares. Rosenblatt Securities boosted their price target on Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Wells Fargo & Company reduced their target price on Pinterest from $47.00 to $42.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Cantor Fitzgerald upped their target price on Pinterest from $36.00 to $48.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Sanford C. Bernstein raised shares of Pinterest from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $34.00 to $47.00 in a research report on Friday, February 7th. Finally, Oppenheimer raised their target price on shares of Pinterest from $40.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.10.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 owns 29,086 shares of the company's stock, valued at $1,139,880.34. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the transaction, the insider now owns 254,211 shares of the company's stock, valued at $8,350,831.35. This trade represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 453,836 shares of company stock worth $14,828,392 in the last three months. Insiders own 7.11% of the company's stock.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $26.05 on Monday. The company has a market capitalization of $17.67 billion, a PE ratio of 9.68, a P/E/G ratio of 1.95 and a beta of 0.99. The company's fifty day moving average is $30.87 and its 200-day moving average is $31.63. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data 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 return on equity of 8.10% and a net margin of 51.07%. On average, analysts forecast that Pinterest, Inc. will post 0.6 EPS 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.

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