Pinterest, Inc. (NYSE:PINS) Shares Sold by Essex LLC

Essex LLC decreased its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 6.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 26,944 shares of the company’s stock after selling 1,760 shares during the period. Essex LLC’s holdings in Pinterest were worth $781,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Point72 Asset Management L.P. acquired a new stake in Pinterest during the 3rd quarter worth about $153,829,000. Southpoint Capital Advisors LP acquired a new stake in shares of Pinterest during the third quarter worth about $123,006,000. Ontario Teachers Pension Plan Board boosted its position in Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after buying an additional 2,996,750 shares during the last quarter. Nordea Investment Management AB increased its holdings in Pinterest by 122.1% in the 4th 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. raised its position in Pinterest by 582.2% during the 4th 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 last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Trading Up 19.1 %

Shares of NYSE PINS opened at $40.02 on Friday. The stock has a market cap of $27.04 billion, a PE ratio of 14.88, a P/E/G ratio of 1.72 and a beta of 1.06. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The company has a 50-day moving average of $31.43 and a 200 day moving average of $31.56.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 9.20%. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.59 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on PINS. KeyCorp increased their price objective on shares of Pinterest from $37.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday. Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, January 10th. Morgan Stanley boosted their price objective on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Royal Bank of Canada raised their target price on Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Wedbush boosted their price target on Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a report on Friday. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.86.

Insider Transactions at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the transaction, the insider now directly owns 246,921 shares in the company, valued at $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the 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 transaction, the chief accounting officer now directly owns 158,468 shares in the company, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock worth $589,131 in the last 90 days. Insiders own 7.11% of the company’s stock.

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.