Pinterest, Inc. (NYSE:PINS) Stock Holdings Trimmed by New Insight Wealth Advisors

New Insight Wealth Advisors lessened its position in shares of Pinterest, Inc. (NYSE:PINS) by 9.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,593 shares of the company’s stock after selling 2,520 shares during the quarter. New Insight Wealth Advisors’ holdings in Pinterest were worth $684,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PINS. Point72 Asset Management L.P. bought a new stake in shares of Pinterest during the 3rd quarter valued at about $153,829,000. Southpoint Capital Advisors LP acquired a new position in Pinterest in the third quarter valued at approximately $123,006,000. Ontario Teachers Pension Plan Board grew its holdings in shares of Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after purchasing an additional 2,996,750 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Pinterest during the 4th quarter worth approximately $61,261,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Pinterest by 122.1% in the 4th quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after purchasing an additional 2,093,248 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analyst Ratings Changes

PINS has been the subject of a number of recent research reports. Barclays upped their price objective on Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Oppenheimer upped their price target on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Friday, February 7th. Guggenheim boosted their target price on shares of Pinterest from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Roth Capital set a $32.00 price target on shares of Pinterest in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.47.

Pinterest Stock Performance

Pinterest stock opened at $34.37 on Monday. The firm has a market cap of $23.31 billion, a price-to-earnings ratio of 12.78, 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. The firm’s 50 day moving average price is $34.13 and its two-hundred day moving average price is $32.27.

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%. As a group, equities analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total value of $35,627.00. Following the completion of the transaction, the director now owns 31,386 shares of the company’s stock, valued at approximately $972,338.28. This trade represents a 3.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeremy S. Levine sold 50,535 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $33.98, for a total transaction of $1,717,179.30. Following the sale, the director now directly owns 1,156,693 shares in the company, valued at approximately $39,304,428.14. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,189 shares of company stock valued at $3,433,811. 7.11% of the stock is owned by corporate 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.