Daiwa Securities Group Inc. Sells 78,301 Shares of Pinterest, Inc. (NYSE:PINS)

Daiwa Securities Group Inc. reduced its stake in Pinterest, Inc. (NYSE:PINS) by 52.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,002 shares of the company’s stock after selling 78,301 shares during the period. Daiwa Securities Group Inc.’s holdings in Pinterest were worth $3,129,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Corient Private Wealth LLC increased its holdings in Pinterest by 56.7% during the 4th quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock worth $3,570,000 after purchasing an additional 34,876 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Pinterest by 13.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after buying an additional 51,455 shares during the period. Contrarius Investment Management Ltd raised its holdings in shares of Pinterest by 300.0% in the fourth quarter. Contrarius Investment Management Ltd now owns 1,722,412 shares of the company’s stock valued at $63,798,000 after acquiring an additional 1,291,854 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Pinterest by 10.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 231,822 shares of the company’s stock worth $8,586,000 after acquiring an additional 22,101 shares during the period. Finally, Deltec Asset Management LLC bought a new position in Pinterest during the 1st quarter worth about $6,449,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the sale, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Andrea Acosta sold 2,564 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the sale, the chief accounting officer now directly owns 186,906 shares in the company, valued at approximately $8,410,770. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Stock Up 0.3 %

Shares of NYSE:PINS opened at $29.31 on Friday. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19. The stock has a market cap of $20.02 billion, a price-to-earnings ratio of 139.57, a PEG ratio of 3.26 and a beta of 1.00. The business has a 50-day moving average price of $34.15 and a 200-day moving average price of $37.00.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The company had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. During the same period last year, the firm posted ($0.04) EPS. Pinterest’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, equities analysts anticipate that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PINS shares. Wolfe Research started coverage on shares of Pinterest in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Citigroup lowered their target price on Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Raymond James reduced their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Wedbush dropped their price objective on Pinterest from $46.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, Morgan Stanley boosted their target price on shares of Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

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.