Pinterest, Inc. (NYSE:PINS) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd cut its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 71.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,600 shares of the company's stock after selling 28,744 shares during the period. UniSuper Management Pty Ltd's holdings in Pinterest were worth $336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new position in Pinterest in the third quarter worth approximately $153,829,000. Raymond James Financial Inc. bought a new position in Pinterest in the 4th quarter worth $61,261,000. Nordea Investment Management AB lifted its position in Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company's stock valued at $111,515,000 after purchasing an additional 2,093,248 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Pinterest by 582.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company's stock valued at $65,741,000 after purchasing an additional 1,934,653 shares during the period. Finally, Swedbank AB increased its position in Pinterest by 2,108.7% in the fourth quarter. Swedbank AB now owns 1,315,052 shares of the company's stock worth $38,137,000 after buying an additional 1,255,513 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PINS. 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 report on Friday, January 10th. Benchmark upgraded shares of Pinterest from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a research report on Friday, February 7th. Wells Fargo & Company reduced their price objective on shares of Pinterest from $47.00 to $42.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Roth Capital set a $32.00 target price on shares of Pinterest in a report on Monday, February 3rd. Finally, Cantor Fitzgerald raised their price target on Pinterest from $36.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $43.17.

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Pinterest Price Performance

Shares of NYSE:PINS traded down $1.73 during trading on Friday, hitting $25.78. The company had a trading volume of 22,729,308 shares, compared to its average volume of 10,226,720. The stock has a market cap of $17.49 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. The company has a fifty day simple moving average of $34.40 and a two-hundred day simple moving average of $32.38. Pinterest, Inc. has a one year low of $24.91 and a one year high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly 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 8.10%. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the completion of the sale, the director now directly owns 6,274 shares of the company's stock, valued at approximately $196,187.98. This trade represents a 94.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the transaction, the chief accounting officer now directly owns 144,129 shares in the company, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 453,836 shares of company stock worth $14,832,336. 7.11% of the stock is currently owned by insiders.

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.