Pinterest, Inc. $PINS Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 5.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,203,029 shares of the company’s stock after selling 280,620 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Pinterest were worth $167,381,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. First Horizon Corp bought a new position in Pinterest during the 3rd quarter worth approximately $167,000. MGO One Seven LLC raised its position in shares of Pinterest by 22.2% during the 3rd quarter. MGO One Seven LLC now owns 7,701 shares of the company’s stock valued at $248,000 after acquiring an additional 1,400 shares in the last quarter. Forum Financial Management LP lifted its stake in Pinterest by 5.0% during the third quarter. Forum Financial Management LP now owns 18,073 shares of the company’s stock worth $581,000 after purchasing an additional 863 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Pinterest by 1.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 113,250 shares of the company’s stock worth $3,643,000 after purchasing an additional 1,155 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Pinterest by 188.8% in the third quarter. Nisa Investment Advisors LLC now owns 38,665 shares of the company’s stock worth $1,244,000 after purchasing an additional 25,275 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PINS. Morgan Stanley reduced their price target on shares of Pinterest from $41.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Sanford C. Bernstein cut their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pinterest in a report on Monday, December 29th. Evercore ISI cut their price target on Pinterest from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Finally, The Goldman Sachs Group lowered their price objective on Pinterest from $43.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.96.

Pinterest Trading Down 1.1%

PINS opened at $26.83 on Tuesday. The business’s 50 day moving average is $26.47 and its 200-day moving average is $32.21. The stock has a market cap of $18.13 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 1.24 and a beta of 0.91. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $40.90.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The firm 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, analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $590,151.06. Following the completion of the sale, the chief financial officer owned 540,358 shares of the company’s stock, valued at $13,973,657.88. This represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the completion of the transaction, the insider owned 301,214 shares of the company’s stock, valued at $8,099,644.46. This represents a 19.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 105,161 shares of company stock valued at $2,796,466. Company insiders own 7.11% of the company’s stock.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.