Ballentine Partners LLC Decreases Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Ballentine Partners LLC decreased its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 3.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 11,455 shares of the company’s stock after selling 375 shares during the period. Ballentine Partners LLC’s holdings in Pinterest were worth $371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Pinterest by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock valued at $1,988,110,000 after buying an additional 994,848 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Pinterest by 9.5% during the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock valued at $445,818,000 after buying an additional 880,398 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Pinterest by 2.2% in the 1st quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock valued at $283,592,000 after purchasing an additional 176,540 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Pinterest by 6.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company’s stock valued at $262,695,000 after purchasing an additional 380,431 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Pinterest by 45.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock valued at $198,846,000 after purchasing an additional 1,798,494 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

PINS has been the topic of a number of research reports. Benchmark restated a “hold” rating on shares of Pinterest in a report on Wednesday, July 31st. UBS Group cut their target price on Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Evercore ISI cut their target price on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. KeyCorp raised their target price on Pinterest from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Barclays cut their target price on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.32.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the sale, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the sale, the director now owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

Shares of PINS opened at $32.27 on Tuesday. The stock has a 50-day simple moving average of $31.72 and a 200-day simple moving average of $36.41. The stock has a market capitalization of $22.05 billion, a PE ratio of 153.67, a PEG ratio of 2.50 and a beta of 1.01. Pinterest, Inc. has a 1 year low of $24.47 and a 1 year high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The business had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) EPS. Analysts predict that Pinterest, Inc. will post 0.39 EPS for the current year.

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.