Pinterest, Inc. (NYSE:PINS) Shares Sold by Barclays PLC

Barclays PLC reduced its position in shares of Pinterest, Inc. (NYSE:PINS) by 2.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,414,333 shares of the company’s stock after selling 140,406 shares during the quarter. Barclays PLC’s holdings in Pinterest were worth $157,017,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PINS. Norges Bank purchased a new position in Pinterest during the fourth quarter worth about $358,205,000. Schroder Investment Management Group boosted its position in shares of Pinterest by 357.5% in the fourth quarter. Schroder Investment Management Group now owns 2,719,355 shares of the company’s stock worth $79,269,000 after acquiring an additional 2,125,010 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Pinterest in the fourth quarter valued at approximately $61,261,000. Nordea Investment Management AB increased its position in Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after purchasing an additional 2,093,248 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Pinterest by 582.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company’s stock valued at $65,741,000 after buying an additional 1,934,653 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Trading Down 2.0 %

Shares of NYSE PINS opened at $25.84 on Tuesday. The company has a market capitalization of $17.53 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $45.19. The business has a 50 day simple moving average of $33.27 and a 200-day simple moving average of $32.11.

Pinterest (NYSE:PINS) last issued its earnings results 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%. As a group, equities analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Activity at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the sale, the director now owns 6,274 shares of the company’s stock, valued at approximately $196,187.98. The trade was a 94.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the transaction, the insider now directly owns 254,211 shares of the company’s stock, valued at $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 453,836 shares of company stock worth $14,832,336 in the last 90 days. 7.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. TD Cowen reduced their target price on Pinterest from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 target price (up previously from $45.00) on shares of Pinterest in a report on Friday, February 7th. Citigroup cut their price target on shares of Pinterest from $47.00 to $38.00 and set a “buy” rating on the stock in a report on Monday. Wedbush boosted their price objective on shares of Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Barclays raised their target price 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. Eight equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.81.

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.