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

Wellington Management Group LLP cut its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 39.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,550,945 shares of the company's stock after selling 7,481,715 shares during the quarter. Wellington Management Group LLP owned about 1.70% of Pinterest worth $334,977,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CIBC Private Wealth Group LLC boosted its holdings in shares of Pinterest by 21.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 988,403 shares of the company's stock valued at $30,512,000 after buying an additional 173,848 shares in the last quarter. RWA Wealth Partners LLC grew its stake in shares of Pinterest by 3,349.3% in the fourth quarter. RWA Wealth Partners LLC now owns 259,385 shares of the company's stock worth $7,522,000 after acquiring an additional 251,865 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Pinterest by 357.5% during the fourth quarter. Schroder Investment Management Group now owns 2,719,355 shares of the company's stock valued at $79,269,000 after acquiring an additional 2,125,010 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Pinterest during the fourth quarter valued at $279,000. Finally, Allstate Corp purchased a new position in shares of Pinterest in the 4th quarter worth about $512,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the business's stock in a transaction on Monday, February 24th. The shares were 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 in the company, valued at $5,399,072.34. The trade was a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now directly owns 30,236 shares in the company, valued at $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 453,836 shares of company stock valued at $14,832,336. 7.11% of the stock is currently owned by insiders.

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Pinterest Stock Performance

Shares of PINS traded down $1.73 during mid-day trading on Friday, reaching $25.78. The stock had a trading volume of 22,729,308 shares, compared to its average volume of 10,226,720. The business has a fifty day moving average of $34.40 and a 200 day moving average of $32.38. The firm 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. Pinterest, Inc. has a 12 month low of $24.91 and a 12 month high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last posted 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 return on equity of 8.10% and a net margin of 51.07%. On average, research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PINS. Barclays raised their price objective on shares of Pinterest from $36.00 to $42.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. The Goldman Sachs Group boosted their price objective on shares of Pinterest from $42.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Benchmark upgraded Pinterest from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research note on Friday, February 7th. Monness Crespi & Hardt upgraded Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 price target for the company in a research note on Friday, January 10th. Finally, Royal Bank of Canada increased their price objective on Pinterest from $48.00 to $50.00 and gave the company an "outperform" rating in a research 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 has a consensus rating of "Moderate Buy" and an average price target of $43.17.

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.