Wrapmanager Inc. Sells 2,147 Shares of Pinterest, Inc. (NYSE:PINS)

Wrapmanager Inc. reduced its stake in shares of Pinterest, Inc. (NYSE:PINS) by 21.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,802 shares of the company’s stock after selling 2,147 shares during the quarter. Wrapmanager Inc.’s holdings in Pinterest were worth $226,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PINS. GAMMA Investing LLC increased its holdings in shares of Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. Crewe Advisors LLC grew its holdings in shares of Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after buying an additional 550 shares in the last quarter. True Wealth Design LLC boosted its position in shares of Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after acquiring an additional 1,487 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of Pinterest by 51.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after acquiring an additional 590 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its position in shares of Pinterest by 44.2% during the 3rd quarter. Rakuten Securities Inc. now owns 2,294 shares of the company’s stock valued at $74,000 after acquiring an additional 703 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Trading Down 0.7 %

PINS stock opened at $36.69 on Wednesday. The company has a market capitalization of $24.89 billion, a P/E ratio of 13.64, a PEG ratio of 1.95 and a beta of 1.06. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The business has a 50 day simple moving average of $33.05 and a 200-day simple moving average of $31.94.

Pinterest (NYSE:PINS) last posted its quarterly earnings data 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 net margin of 51.07% and a return on equity of 8.10%. Research analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,117 shares of company stock valued at $253,056. 7.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on PINS shares. Raymond James upped their target price on shares of Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Robert W. Baird reduced their price target on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Piper Sandler reissued a “neutral” rating and set a $41.00 price target (up previously from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Wedbush increased their price target on shares of Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.47.

Pinterest Company 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.