Wellington Management Group LLP Sells 7,481,715 Shares of Pinterest, Inc. (NYSE:PINS)

Wellington Management Group LLP lowered its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 39.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,550,945 shares of the company's stock after selling 7,481,715 shares during the period. Wellington Management Group LLP owned approximately 1.70% of Pinterest worth $334,977,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. increased its position in Pinterest by 3.7% during the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company's stock valued at $304,000 after acquiring an additional 339 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake 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 period. Ethos Financial Group LLC increased its position 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 during 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 worth $1,154,000 after purchasing an additional 372 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 415 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on PINS shares. Morgan Stanley upped their target price on shares of Pinterest from $35.00 to $36.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. Royal Bank of Canada raised their target price on Pinterest from $48.00 to $50.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Jefferies Financial Group reissued a "hold" rating and set a $32.00 price target (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. 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 note on Friday, January 10th. Finally, Benchmark upgraded Pinterest from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.17.

Insider Activity

In other news, 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 transaction of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares of the company's stock, valued at approximately $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total value of $3,180,906.28. Following the transaction, the director now owns 6,274 shares of the company's stock, valued at approximately $195,497.84. The trade was a 94.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 453,836 shares of company stock valued at $14,832,336 in the last ninety days. Insiders own 7.11% of the company's stock.

Pinterest Stock Down 6.3 %

Pinterest stock traded down $1.73 during mid-day trading on Friday, reaching $25.78. 22,729,308 shares of the company's stock traded hands, compared to its average volume of 10,243,869. Pinterest, Inc. has a 12-month low of $24.91 and a 12-month high of $45.19. The company has a market cap of $17.49 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 1.95 and a beta of 0.99. The stock has a 50 day moving average of $34.40 and a two-hundred day moving average of $32.42.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS 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, sell-side analysts forecast that Pinterest, Inc. will post 0.6 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.