Sei Investments Co. Lowers Holdings in Pinterest, Inc. (NYSE:PINS)

Sei Investments Co. cut its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 34.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 447,676 shares of the company’s stock after selling 237,610 shares during the period. Sei Investments Co.’s holdings in Pinterest were worth $12,984,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cerity Partners LLC raised its stake in shares of Pinterest by 63.4% in the third quarter. Cerity Partners LLC now owns 52,357 shares of the company’s stock valued at $1,695,000 after acquiring an additional 20,310 shares in the last quarter. Algert Global LLC increased its holdings in Pinterest by 53.4% during the 3rd quarter. Algert Global LLC now owns 16,099 shares of the company’s stock worth $521,000 after purchasing an additional 5,604 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Pinterest in the 3rd quarter valued at about $11,109,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Pinterest by 0.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,982 shares of the company’s stock worth $4,013,000 after buying an additional 1,008 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake 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 worth $304,000 after buying an additional 339 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on PINS. Rosenblatt Securities increased their price objective on shares of Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Wedbush raised their price target on Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Royal Bank of Canada upped their price objective on Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Piper Sandler reissued a “neutral” rating and set a $41.00 target price (up previously from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Finally, Morgan Stanley increased their price target on shares of Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Pinterest Stock Down 2.3 %

Shares of NYSE:PINS opened at $31.49 on Friday. The company has a market cap of $21.35 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm’s 50-day simple moving average is $34.66 and its 200-day simple moving average is $32.37.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. On average, research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Activity

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

About Pinterest

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.