Vanguard Group Inc. Sells 3,352,491 Shares of Pinterest, Inc. (NYSE:PINS)

Vanguard Group Inc. lowered its position in shares of Pinterest, Inc. (NYSE:PINS) by 5.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 56,744,848 shares of the company’s stock after selling 3,352,491 shares during the quarter. Vanguard Group Inc. owned 0.08% of Pinterest worth $1,645,601,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. increased its position in shares of Pinterest by 3.7% during the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after acquiring an additional 339 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Pinterest by 2.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock valued at $366,000 after purchasing an additional 342 shares during the last quarter. Ethos Financial Group LLC raised its stake in shares of Pinterest by 3.1% during the 4th quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock worth $342,000 after purchasing an additional 350 shares during the period. Amalgamated Bank boosted its holdings in shares of Pinterest by 0.9% in the 4th quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock worth $1,154,000 after buying an additional 372 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after buying an additional 415 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

PINS has been the topic of several research reports. Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $34.00 to $47.00 in a research report on Friday, February 7th. Benchmark raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, February 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Roth Capital set a $32.00 target price on Pinterest in a research report on Monday, February 3rd. Finally, Wells Fargo & Company upped their price target on Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and an average target price of $43.33.

Pinterest Trading Down 1.9 %

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

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%. As a group, sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other Pinterest news, 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 transaction of $219,766.50. Following the transaction, the insider now directly owns 254,211 shares of the company’s stock, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the sale, the director now directly owns 29,086 shares of the company’s stock, valued at $1,139,880.34. This trade represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,753 shares of company stock worth $11,640,201 over the last 90 days. Corporate insiders own 7.11% of the company’s stock.

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.