Sumitomo Mitsui Trust Holdings Inc. Has $198.85 Million Position in Pinterest, Inc. (NYSE:PINS)

Sumitomo Mitsui Trust Holdings Inc. grew its stake in Pinterest, Inc. (NYSE:PINS) by 45.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,735,384 shares of the company’s stock after buying an additional 1,798,494 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Pinterest were worth $198,846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Pinterest by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 56,348,952 shares of the company’s stock valued at $2,087,165,000 after purchasing an additional 1,439,595 shares during the period. Ameriprise Financial Inc. raised its stake in Pinterest by 43.9% during the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock worth $300,639,000 after buying an additional 3,390,924 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Pinterest by 34.0% in the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after buying an additional 2,548,925 shares during the period. Baillie Gifford & Co. boosted its position in Pinterest by 12.6% during the fourth quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock valued at $344,685,000 after acquiring an additional 1,043,173 shares during the last quarter. Finally, Capital World Investors grew its holdings in Pinterest by 0.7% during the 4th quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock worth $329,179,000 after acquiring an additional 64,270 shares during the period. 88.81% of the stock is currently owned by institutional investors.

Pinterest Stock Performance

NYSE:PINS opened at $43.12 on Thursday. Pinterest, Inc. has a 52 week low of $23.59 and a 52 week high of $45.19. The firm has a 50-day moving average price of $41.85 and a two-hundred day moving average price of $38.04. The firm has a market cap of $29.46 billion, a price-to-earnings ratio of 205.34, a price-to-earnings-growth ratio of 4.24 and a beta of 0.97.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.05. The company had revenue of $739.98 million during the quarter, compared to analyst estimates of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. As a group, sell-side analysts forecast that Pinterest, Inc. will post 0.44 earnings per share for the current year.

Analyst Ratings Changes

PINS has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Piper Sandler restated an “overweight” rating and set a $52.00 price target on shares of Pinterest in a report on Friday, June 14th. JPMorgan Chase & Co. lifted their price objective on shares of Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Wedbush increased their target price on shares of Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Benchmark restated a “hold” rating on shares of Pinterest in a report on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.37.

Insider Activity

In related news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the transaction, the director now directly owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the sale, the chief accounting officer now directly owns 189,470 shares in the company, valued at $8,317,733. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the transaction, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The disclosure for this sale can be found here. Insiders sold a total of 52,184 shares of company stock valued at $2,255,783 in the last ninety days. 7.11% of the stock is currently owned by insiders.

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.