Pictet Asset Management Holding SA Has $75.68 Million Stock Position in Pinterest, Inc. (NYSE:PINS)

Pictet Asset Management Holding SA lessened its position in Pinterest, Inc. (NYSE:PINS) by 30.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,609,483 shares of the company’s stock after selling 1,140,604 shares during the period. Pictet Asset Management Holding SA’s holdings in Pinterest were worth $75,675,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Pinterest during the fourth quarter worth about $358,205,000. Blair William & Co. IL acquired a new position in Pinterest during the 4th quarter valued at about $799,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Pinterest by 224.7% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 39,040 shares of the company’s stock worth $1,132,000 after purchasing an additional 27,015 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of Pinterest in the fourth quarter worth approximately $10,202,000. Finally, Howe & Rusling Inc. lifted its holdings in shares of Pinterest by 23.3% in the fourth quarter. Howe & Rusling Inc. now owns 164,053 shares of the company’s stock valued at $4,758,000 after purchasing an additional 31,041 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PINS. Cantor Fitzgerald upped their price target on Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Royal Bank of Canada upped their target price on shares of Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Sanford C. Bernstein upgraded shares of Pinterest from a “market perform” rating to an “outperform” rating and increased their target price for the company from $34.00 to $47.00 in a report on Friday, February 7th. The Goldman Sachs Group boosted their price target on shares of Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Roth Capital set a $32.00 price objective on shares of Pinterest in a research note on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and an average target price of $43.33.

Insider Activity

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $33.71, for a total value of $3,441,217.93. Following the completion of the transaction, the director now owns 6,274 shares in the company, valued at $211,496.54. This represents a 94.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 351,753 shares of company stock worth $11,640,201. 7.11% of the stock is owned by company insiders.

Pinterest Price Performance

NYSE:PINS opened at $31.49 on Friday. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The stock’s fifty day moving average price is $34.66 and its two-hundred day moving average price is $32.39. The company has a market cap of $21.35 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (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, analysts expect 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.