Pinterest, Inc. (NYSE:PINS) Shares Sold by Flossbach Von Storch AG

Flossbach Von Storch AG cut its holdings in Pinterest, Inc. (NYSE:PINS) by 27.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,240 shares of the company’s stock after selling 82,900 shares during the quarter. Flossbach Von Storch AG’s holdings in Pinterest were worth $7,935,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in Pinterest by 372.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,073,874 shares of the company’s stock valued at $487,394,000 after purchasing an additional 15,825,757 shares during the last quarter. Renaissance Technologies LLC increased its stake in Pinterest by 262.8% during the first quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company’s stock worth $283,399,000 after acquiring an additional 8,341,222 shares during the last quarter. Norges Bank acquired a new stake in Pinterest during the fourth quarter worth about $149,748,000. Fred Alger Management LLC raised its holdings in shares of Pinterest by 279,496.9% during the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock valued at $126,286,000 after buying an additional 4,670,394 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Pinterest by 43.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after buying an additional 3,390,924 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the transaction, the insider now owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total transaction of $65,949.40. Following the sale, the director now directly owns 33,580 shares in the company, valued at approximately $1,145,078. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,471 shares of company stock valued at $6,525,231. Insiders own 6.85% of the company’s stock.

Pinterest Trading Up 0.8 %

NYSE PINS traded up $0.27 on Thursday, reaching $33.04. The stock had a trading volume of 983,586 shares, compared to its average volume of 9,483,565. The business has a 50 day moving average price of $35.03 and a 200 day moving average price of $33.94. Pinterest, Inc. has a 1 year low of $20.60 and a 1 year high of $41.60. The company has a market capitalization of $22.43 billion, a price-to-earnings ratio of -546.24, a P/E/G ratio of 4.48 and a beta of 0.99.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. The company had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. On average, analysts anticipate that Pinterest, Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PINS. Susquehanna raised their price objective on Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a research note on Friday, February 9th. Evercore ISI boosted their price objective on Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. BMO Capital Markets began coverage on Pinterest in a research report on Tuesday, January 9th. They set an “outperform” rating and a $45.00 price objective for the company. Argus raised Pinterest from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Thursday, January 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $45.00 target price on shares of Pinterest in a research note on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.97.

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.