Swiss National Bank Lowers Position in Pinterest, Inc. (NYSE:PINS)

Swiss National Bank reduced its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 4.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,705,100 shares of the company's stock after selling 73,900 shares during the quarter. Swiss National Bank owned approximately 0.25% of Pinterest worth $49,448,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Pinterest by 615.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 224,375 shares of the company's stock valued at $6,507,000 after purchasing an additional 192,998 shares during the period. Founders Financial Alliance LLC raised its holdings in Pinterest by 5.9% in the 4th quarter. Founders Financial Alliance LLC now owns 10,056 shares of the company's stock valued at $292,000 after acquiring an additional 560 shares in the last quarter. Clare Market Investments LLC acquired a new position in Pinterest in the 4th quarter valued at $252,000. Independent Advisor Alliance raised its holdings in Pinterest by 26.3% in the 4th quarter. Independent Advisor Alliance now owns 10,916 shares of the company's stock valued at $317,000 after acquiring an additional 2,274 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Pinterest by 2.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 65,496 shares of the company's stock valued at $1,900,000 after acquiring an additional 1,335 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

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Insider Activity at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the company'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 of the company's stock, valued at approximately $920,081.48. This represents a 3.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of the company'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 transaction, the chief accounting officer now directly 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 have sold a total of 105,729 shares of company stock worth $3,617,950 in the last 90 days. Corporate insiders own 7.11% of the company's stock.

Pinterest Stock Down 0.6 %

Shares of NYSE PINS traded down $0.21 during trading on Thursday, reaching $31.40. The company had a trading volume of 11,022,787 shares, compared to its average volume of 9,844,793. The company's fifty day moving average price is $34.34 and its 200-day moving average price is $32.27. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The stock has a market cap of $21.29 billion, a P/E ratio of 11.67, a PEG ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS - Get Free Report) last announced 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 net margin of 51.07% and a return on equity of 8.10%. As a group, equities analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Rosenblatt Securities lifted their price objective on Pinterest from $46.00 to $51.00 and gave the company a "buy" rating in a report on Friday, February 7th. Cantor Fitzgerald lifted their price objective on Pinterest from $36.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Wedbush lifted their price objective on Pinterest from $38.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $50.00 price objective (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. Finally, Morgan Stanley boosted their price target on Pinterest from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of "Moderate Buy" and an average target price of $43.30.

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.