Vanguard Group Inc. Has $1.65 Billion Stock Position in Pinterest, Inc. (NYSE:PINS)

Vanguard Group Inc. cut its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,744,848 shares of the company’s stock after selling 3,352,491 shares during the period. Vanguard Group Inc. owned about 8.40% of Pinterest worth $1,645,601,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in shares of Pinterest during the 4th quarter worth $28,000. GAMMA Investing LLC lifted its holdings in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after acquiring an additional 415 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after purchasing an additional 1,487 shares in the last quarter. V Square Quantitative Management LLC grew its holdings 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 purchasing an additional 590 shares during the last quarter. Finally, Manchester Capital Management LLC increased its position in Pinterest by 17,692.3% during the 4th quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock worth $67,000 after purchasing an additional 2,300 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Price Performance

PINS stock opened at $32.29 on Friday. The company’s 50-day moving average is $34.64 and its 200-day moving average is $32.35. The stock has a market capitalization of $21.90 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings results 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%. On average, analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now owns 30,236 shares in the company, valued at $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the transaction, the insider now directly owns 254,211 shares in the company, valued at approximately $8,350,831.35. The trade was a 2.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 351,753 shares of company stock valued at $11,640,201. 7.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on PINS. Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $34.00 to $47.00 in a research note on Friday, February 7th. Jefferies Financial Group restated a “hold” rating and set a $32.00 price objective (down previously from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Wedbush increased their target price on Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Guggenheim upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and raised their price objective for the company from $39.00 to $40.00 in a report on Monday. Finally, Piper Sandler reissued a “neutral” rating and set a $41.00 target price (up from $36.00) on shares of Pinterest in a report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and a consensus price target of $43.33.

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.