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

Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Pinterest, Inc. (NYSE:PINS) by 45.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,735,384 shares of the company’s stock after acquiring an additional 1,798,494 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.84% of Pinterest worth $198,846,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. LPL Financial LLC raised its holdings in shares of Pinterest by 22.0% during the third quarter. LPL Financial LLC now owns 348,803 shares of the company’s stock worth $9,428,000 after acquiring an additional 63,012 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Pinterest by 15.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 14,154 shares of the company’s stock worth $383,000 after buying an additional 1,882 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in Pinterest during the third quarter valued at approximately $4,057,000. Bank of Nova Scotia lifted its stake in Pinterest by 28.1% in the third quarter. Bank of Nova Scotia now owns 15,319 shares of the company’s stock valued at $414,000 after acquiring an additional 3,359 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Pinterest by 1.9% during the 3rd quarter. Lazard Asset Management LLC now owns 48,029 shares of the company’s stock worth $1,298,000 after purchasing an additional 901 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PINS. BMO Capital Markets increased their target price on shares of Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price objective on Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Piper Sandler restated an “overweight” rating and issued a $52.00 target price on shares of Pinterest in a report on Friday, June 14th. Roth Mkm lifted their price target on shares of Pinterest from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Stifel Nicolaus upped their price objective on shares of Pinterest from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.37.

Pinterest Stock Down 0.3 %

NYSE PINS opened at $43.12 on Thursday. Pinterest, Inc. has a twelve month low of $23.59 and a twelve month high of $45.19. The stock has a market cap of $29.46 billion, a P/E ratio of 205.34, a PEG ratio of 4.24 and a beta of 0.97. The company’s 50-day simple moving average is $41.85 and its 200 day simple moving average is $38.04.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.05. The company had revenue of $739.98 million for 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%. Research analysts anticipate that Pinterest, Inc. will post 0.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 11,627 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total value of $481,590.34. Following the sale, the insider now owns 307,256 shares in the company, valued at approximately $12,726,543.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of Pinterest 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 completion of the transaction, the director now owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total value of $481,590.34. Following the sale, the insider now owns 307,256 shares in the company, valued at approximately $12,726,543.52. The disclosure for this sale can be found here. Insiders sold 52,184 shares of company stock worth $2,255,783 over the last three months. 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.