Pinterest, Inc. (NYSE:PINS) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its position in Pinterest, Inc. (NYSE:PINS) by 11.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 73,876 shares of the company’s stock after selling 9,638 shares during the period. Corient Private Wealth LLC’s holdings in Pinterest were worth $2,142,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PINS. State Street Corp grew its stake in Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after acquiring an additional 156,748 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Pinterest by 0.8% in the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after purchasing an additional 76,920 shares during the last quarter. Ninety One UK Ltd increased its stake in shares of Pinterest by 5.4% during the 4th quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock worth $158,677,000 after purchasing an additional 278,362 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Pinterest during the 3rd quarter worth approximately $153,829,000. Finally, ARK Investment Management LLC lifted its stake in Pinterest by 0.4% in the 4th quarter. ARK Investment Management LLC now owns 4,386,546 shares of the company’s stock valued at $127,210,000 after buying an additional 17,997 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Trading Up 5.0 %

Shares of Pinterest stock opened at $34.05 on Tuesday. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The stock has a market cap of $23.09 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a fifty day moving average price of $34.46 and a 200 day moving average price of $32.31.

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

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the sale, the director now directly owns 29,086 shares of the company’s stock, valued at approximately $1,139,880.34. This trade represents a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the transaction, the chief accounting officer now owns 144,129 shares in the company, valued at $5,399,072.34. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 237,417 shares of company stock valued at $7,803,946 over the last 90 days. 7.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PINS has been the subject of several recent research reports. Benchmark raised Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Friday, February 7th. Royal Bank of Canada boosted their target price on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays upped their target price on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Cantor Fitzgerald lifted their price target on shares of Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $32.00 price objective (down previously from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Seven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

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.