Sumitomo Mitsui Trust Group Inc. Decreases Stake in Pinterest, Inc. (NYSE:PINS)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Pinterest, Inc. (NYSE:PINS) by 6.0% during the 4th quarter, HoldingsChannel reports. The fund owned 5,587,655 shares of the company’s stock after selling 356,834 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Pinterest were worth $162,042,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PINS. GAMMA Investing LLC raised its position in shares of Pinterest by 63.5% in 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. V Square Quantitative Management LLC acquired a new stake in Pinterest in the third quarter valued at $37,000. Crewe Advisors LLC boosted its stake in Pinterest by 91.1% during the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after acquiring an additional 550 shares during the last quarter. True Wealth Design LLC grew its holdings in Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after acquiring an additional 1,487 shares in the last quarter. Finally, Rakuten Securities Inc. increased its position in shares of Pinterest by 44.2% in the 3rd quarter. Rakuten Securities Inc. now owns 2,294 shares of the company’s stock worth $74,000 after purchasing an additional 703 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PINS shares. Morgan Stanley lifted their price target on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Jefferies Financial Group restated a “hold” rating and set a $32.00 price objective (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Friday, January 10th. Barclays increased their price objective on shares of Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Royal Bank of Canada lifted their target price on Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.86.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total value of $35,627.00. Following the completion of the sale, the director now directly owns 31,386 shares of the company’s stock, valued at $972,338.28. This represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were 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. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,157 shares of company stock valued at $589,131. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Up 19.1 %

Shares of NYSE PINS opened at $40.02 on Friday. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The company has a market cap of $27.04 billion, a price-to-earnings ratio of 133.39, a P/E/G ratio of 1.68 and a beta of 1.06. The business has a fifty day simple moving average of $31.23 and a 200-day simple moving average of $31.57.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 6.21% and a return on equity of 8.37%. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.42 EPS for the current fiscal year.

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.