Pinterest, Inc. (NYSE:PINS) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lowered its stake in shares of Pinterest, Inc. (NYSE:PINS) by 5.1% during the fourth quarter, Holdings Channel reports. The fund owned 79,194 shares of the company’s stock after selling 4,224 shares during the quarter. Van ECK Associates Corp’s holdings in Pinterest were worth $2,297,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new position in Pinterest during the third quarter worth about $153,829,000. Southpoint Capital Advisors LP purchased a new position in Pinterest during the third quarter worth about $123,006,000. Ontario Teachers Pension Plan Board lifted its position in Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after buying an additional 2,996,750 shares during the period. Nordea Investment Management AB lifted its position in Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after buying an additional 2,093,248 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Pinterest by 582.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company’s stock worth $65,741,000 after buying an additional 1,934,653 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analysts Set New Price Targets

PINS has been the topic of several recent analyst reports. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $34.00 to $47.00 in a research report on Friday, February 7th. Barclays increased their target price on Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Roth Mkm cut their price objective on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price objective (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. Finally, TD Cowen started coverage on Pinterest in a report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and an average price target of $43.86.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. This represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the sale, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock valued at $600,010 in the last three months. Insiders own 7.11% of the company’s stock.

Pinterest Price Performance

Shares of PINS stock opened at $39.66 on Friday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The stock’s 50-day moving average is $32.78 and its two-hundred day moving average is $31.78. The firm has a market cap of $26.90 billion, a P/E ratio of 14.74, a PEG ratio of 1.93 and a beta of 1.06.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. As a group, research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current year.

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.