Ellevest Inc. Sells 1,361 Shares of Pinterest, Inc. (NYSE:PINS)

Ellevest Inc. reduced its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 15.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,496 shares of the company’s stock after selling 1,361 shares during the period. Ellevest Inc.’s holdings in Pinterest were worth $217,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in Pinterest by 104.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock valued at $737,533,000 after purchasing an additional 12,986,310 shares during the period. Norges Bank purchased a new stake in Pinterest during the fourth quarter valued at approximately $358,205,000. Marshall Wace LLP raised its holdings in Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock valued at $310,352,000 after buying an additional 6,129,985 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Pinterest by 49.7% in the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock valued at $395,441,000 after acquiring an additional 4,527,902 shares during the period. Finally, Contour Asset Management LLC purchased a new position in shares of Pinterest during the fourth quarter valued at approximately $86,330,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Trading Up 4.9 %

Shares of Pinterest stock opened at $29.23 on Friday. The firm’s 50 day simple moving average is $28.84 and its two-hundred day simple moving average is $31.21. The firm has a market capitalization of $19.82 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 1.95 and a beta of 0.83. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The firm had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same period in the previous year, the company earned $0.17 earnings per share. Pinterest’s revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total value of $45,068.50. Following the sale, the director now directly owns 29,086 shares of the company’s stock, valued at approximately $1,139,880.34. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at $5,399,072.34. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 453,836 shares of company stock worth $14,828,392 over the last quarter. Insiders own 7.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Pinterest from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Raymond James lowered shares of Pinterest from an “overweight” rating to a “market perform” rating in a research report on Monday, April 7th. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $34.00 to $47.00 in a report on Friday, February 7th. KeyCorp raised their price objective on Pinterest from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday. Finally, UBS Group dropped their price target on Pinterest from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.27.

Pinterest 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.