Pinterest, Inc. (NYSE:PINS) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Pinterest, Inc. (NYSE:PINS) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,729 shares of the company’s stock after acquiring an additional 4,478 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Pinterest were worth $3,876,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brown Shipley& Co Ltd acquired a new position in shares of Pinterest in the 2nd quarter worth approximately $25,000. Wellington Shields Capital Management LLC bought a new position in shares of Pinterest in the second quarter valued at $26,000. Hexagon Capital Partners LLC increased its holdings in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after acquiring an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new position in shares of Pinterest in the 2nd quarter worth $35,000. 88.81% of the stock is currently owned by institutional investors.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is owned by corporate insiders.

Pinterest Price Performance

Shares of NYSE:PINS opened at $33.18 on Monday. The stock has a market capitalization of $22.67 billion, a P/E ratio of 158.00, a P/E/G ratio of 2.62 and a beta of 1.01. The business has a 50-day moving average of $31.50 and a two-hundred day moving average of $36.50. Pinterest, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $45.19.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on PINS shares. JPMorgan Chase & Co. reduced their target price on Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Morgan Stanley raised 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. Roth Mkm cut their price target on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Robert W. Baird decreased their price objective on shares of Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, Wolfe Research assumed coverage on shares of Pinterest in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. 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 company has a consensus rating of “Moderate Buy” and an average target price of $43.32.

About Pinterest

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.