Swiss National Bank Decreases Stake in Pinterest, Inc. (NYSE:PINS)

Swiss National Bank lessened its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,819,500 shares of the company’s stock after selling 92,000 shares during the period. Swiss National Bank owned approximately 0.27% of Pinterest worth $67,394,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in shares of Pinterest by 43.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock worth $300,639,000 after acquiring an additional 3,390,924 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Pinterest by 12.6% in the fourth quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock valued at $344,685,000 after purchasing an additional 1,043,173 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Pinterest by 26.0% in the third quarter. Clearbridge Investments LLC now owns 6,820,443 shares of the company’s stock valued at $184,357,000 after buying an additional 1,407,793 shares in the last quarter. FMR LLC raised its stake in shares of Pinterest by 8.1% during the 3rd quarter. FMR LLC now owns 5,097,160 shares of the company’s stock worth $137,776,000 after buying an additional 381,837 shares during the last quarter. Finally, Fred Alger Management LLC raised its stake in shares of Pinterest by 279,496.9% during the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock worth $126,286,000 after buying an additional 4,670,394 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PINS. Royal Bank of Canada raised their target price on shares of Pinterest from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Benchmark restated a “hold” rating on shares of Pinterest in a research report on Wednesday, May 1st. Argus raised Pinterest from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Thursday, January 18th. Sanford C. Bernstein raised their price target on Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 1st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $48.00 price objective (up from $45.00) on shares of Pinterest in a research report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.82.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the transaction, the chief financial officer now owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the sale, the insider now owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The disclosure for this sale can be found here. Insiders sold a total of 164,471 shares of company stock worth $5,773,431 over the last ninety days. 7.11% of the stock is owned by company insiders.

Pinterest Trading Down 0.2 %

Shares of Pinterest stock opened at $40.41 on Monday. The business’s fifty day moving average price is $34.79 and its 200 day moving average price is $34.58. Pinterest, Inc. has a twelve month low of $20.60 and a twelve month high of $41.60. The stock has a market capitalization of $27.61 billion, a P/E ratio of 192.44, a PEG ratio of 4.02 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. As a group, sell-side analysts predict that Pinterest, Inc. will post 0.43 EPS for the current year.

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.