Jupiter Asset Management Ltd. Decreases Stake in Pinterest, Inc. (NYSE:PINS)

Jupiter Asset Management Ltd. lessened its stake in Pinterest, Inc. (NYSE:PINS) by 18.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 894,063 shares of the company’s stock after selling 197,701 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Pinterest were worth $25,928,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Founders Financial Alliance LLC grew its position in Pinterest by 5.9% during the fourth quarter. Founders Financial Alliance LLC now owns 10,056 shares of the company’s stock worth $292,000 after buying an additional 560 shares during the period. Clare Market Investments LLC purchased a new stake in shares of Pinterest during the 4th quarter worth approximately $252,000. Independent Advisor Alliance grew its holdings in shares of Pinterest by 26.3% in the 4th quarter. Independent Advisor Alliance now owns 10,916 shares of the company’s stock worth $317,000 after acquiring an additional 2,274 shares during the period. Daiwa Securities Group Inc. increased its stake in Pinterest by 2.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 65,496 shares of the company’s stock valued at $1,900,000 after purchasing an additional 1,335 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Pinterest by 167.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 331,899 shares of the company’s stock worth $9,625,000 after purchasing an additional 207,917 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler restated a “neutral” rating and issued a $41.00 price target (up previously from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Wells Fargo & Company raised their target price on shares of Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Cantor Fitzgerald lifted their target price on shares of Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price target (down from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Finally, Roth Capital set a $32.00 price objective on Pinterest in a research report on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.47.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $33.27 on Thursday. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The stock has a 50-day simple moving average of $34.32 and a 200-day simple moving average of $32.27. The stock has a market capitalization of $22.56 billion, a P/E ratio of 12.37, a PEG ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) 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%. Analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Activity at Pinterest

In other news, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the sale, the chief accounting officer now owns 144,129 shares in the company, valued at approximately $5,399,072.34. This trade represents a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total value of $35,627.00. Following the sale, the director now owns 31,386 shares in the company, valued at approximately $972,338.28. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 106,879 shares of company stock worth $3,653,577. Corporate 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.