Vontobel Holding Ltd. Trims Stock Position in Pinterest, Inc. (NYSE:PINS)

Vontobel Holding Ltd. trimmed its stake in Pinterest, Inc. (NYSE:PINS) by 59.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,472 shares of the company’s stock after selling 64,825 shares during the period. Vontobel Holding Ltd.’s holdings in Pinterest were worth $1,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PINS. Price T Rowe Associates Inc. MD boosted its holdings in shares of Pinterest by 372.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,073,874 shares of the company’s stock valued at $487,394,000 after acquiring an additional 15,825,757 shares during the period. Renaissance Technologies LLC boosted its stake in Pinterest by 262.8% during the 1st quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company’s stock worth $283,399,000 after purchasing an additional 8,341,222 shares during the period. Norges Bank purchased a new position in Pinterest during the 4th quarter worth $149,748,000. Fred Alger Management LLC increased its stake in Pinterest by 279,496.9% in the third quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock valued at $126,286,000 after purchasing an additional 4,670,394 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Pinterest by 43.9% in the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after buying an additional 3,390,924 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on Pinterest from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Wedbush upped their price target on Pinterest from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. BMO Capital Markets started coverage on shares of Pinterest in a research report on Tuesday, January 9th. They issued an “outperform” rating and a $45.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of Pinterest from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $48.00 target price on shares of Pinterest in a report on Tuesday, March 26th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.97.

Pinterest Stock Performance

NYSE:PINS opened at $32.40 on Friday. Pinterest, Inc. has a twelve month low of $20.60 and a twelve month high of $41.60. The firm has a 50-day moving average price of $34.79 and a two-hundred day moving average price of $33.97.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The business had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. On average, equities analysts anticipate that Pinterest, Inc. will post 0.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the sale, the director now directly owns 31,646 shares in the company, valued at $1,055,077.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the transaction, the director now owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the transaction, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,471 shares of company stock valued at $6,525,231. Corporate insiders own 6.85% of the company’s stock.

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.