Voya Investment Management LLC Sells 586,593 Shares of Pinterest, Inc. (NYSE:PINS)

Voya Investment Management LLC lowered its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 34.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,117,624 shares of the company's stock after selling 586,593 shares during the quarter. Voya Investment Management LLC owned approximately 0.17% of Pinterest worth $32,411,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PINS. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in Pinterest by 22.4% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 302,248 shares of the company's stock valued at $8,798,000 after buying an additional 55,301 shares in the last quarter. RiverPark Advisors LLC boosted its holdings in shares of Pinterest by 20.3% during the 4th quarter. RiverPark Advisors LLC now owns 43,346 shares of the company's stock valued at $1,257,000 after acquiring an additional 7,310 shares in the last quarter. Freshford Capital Management LLC bought a new stake in Pinterest during the 4th quarter worth $14,569,000. Long Focus Capital Management LLC increased its holdings in Pinterest by 372.6% in the 4th quarter. Long Focus Capital Management LLC now owns 907,483 shares of the company's stock worth $26,317,000 after purchasing an additional 715,483 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its position in Pinterest by 162.8% in the fourth quarter. Pinebridge Investments L.P. now owns 76,742 shares of the company's stock valued at $2,226,000 after purchasing an additional 47,539 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total value of $31,050.00. Following the completion of the transaction, the director now owns 26,786 shares in the company, valued at $723,222. This represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction on Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the sale, the insider now owns 254,211 shares in the company, valued at $8,350,831.35. The trade was a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 453,836 shares of company stock valued at $14,828,392 in the last three months. 7.11% of the stock is currently owned by insiders.

Pinterest Price Performance

PINS opened at $26.05 on Friday. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The firm 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 50-day moving average is $30.87 and its 200 day moving average is $31.66.

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 analysts' consensus estimates 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, analysts expect that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PINS shares. Cantor Fitzgerald upped their price objective on Pinterest from $36.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Jefferies Financial Group reaffirmed a "hold" rating and set a $32.00 price target (down previously from $40.00) on shares of Pinterest in a research note on Monday, January 13th. The Goldman Sachs Group reduced their price objective on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Morgan Stanley lowered their target price on Pinterest from $42.00 to $28.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Finally, Citigroup reduced their price target on Pinterest from $47.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Eight equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $41.10.

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.

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