Metis Global Partners LLC Trims Stake in Pinterest, Inc. $PINS

Metis Global Partners LLC reduced its holdings in Pinterest, Inc. (NYSE:PINS) by 25.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,454 shares of the company’s stock after selling 3,611 shares during the quarter. Metis Global Partners LLC’s holdings in Pinterest were worth $375,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Pinterest by 2.2% during the first quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company’s stock worth $1,798,270,000 after purchasing an additional 1,263,863 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Pinterest by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock valued at $988,662,000 after purchasing an additional 6,460,143 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Pinterest by 13.7% in the 1st quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company’s stock worth $480,452,000 after buying an additional 1,862,654 shares in the last quarter. Amundi increased its holdings in shares of Pinterest by 618.9% in the 1st quarter. Amundi now owns 14,254,741 shares of the company’s stock worth $441,897,000 after buying an additional 12,271,958 shares during the last quarter. Finally, Swedbank AB raised its position in shares of Pinterest by 27.3% during the 2nd quarter. Swedbank AB now owns 7,430,885 shares of the company’s stock valued at $266,472,000 after buying an additional 1,591,400 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total transaction of $795,311.85. Following the completion of the sale, the chief financial officer directly owned 312,422 shares in the company, valued at $10,887,906.70. This represents a 6.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $35.00, for a total transaction of $40,250.00. Following the sale, the director directly owned 30,600 shares of the company’s stock, valued at $1,071,000. The trade was a 3.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 640,236 shares of company stock valued at $22,878,326 in the last three months. Corporate insiders own 7.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Bank of America cut their target price on shares of Pinterest from $44.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Wells Fargo & Company dropped their price target on Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Wall Street Zen lowered Pinterest from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Cowen reissued a “buy” rating on shares of Pinterest in a report on Friday, August 8th. Finally, UBS Group dropped their target price on Pinterest from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.55.

Pinterest Trading Down 0.1%

NYSE PINS opened at $27.33 on Thursday. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The stock has a 50-day moving average of $33.01 and a 200-day moving average of $33.88. The firm has a market cap of $18.58 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 1.61 and a beta of 0.96.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $665.93 million for the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%. As a group, equities research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

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.