Vontobel Holding Ltd. Decreases Stake in Pinterest, Inc. (NYSE:PINS)

Vontobel Holding Ltd. reduced its stake in Pinterest, Inc. (NYSE:PINS) by 26.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,825 shares of the company’s stock after selling 4,533 shares during the quarter. Vontobel Holding Ltd.’s holdings in Pinterest were worth $415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PINS. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Pinterest by 13.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after buying an additional 51,455 shares in the last quarter. Deltec Asset Management LLC acquired a new position in shares of Pinterest during the 1st quarter worth approximately $6,449,000. Russell Investments Group Ltd. raised its stake in shares of Pinterest by 38.0% during the 1st quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock worth $21,358,000 after buying an additional 169,052 shares during the period. Artemis Investment Management LLP acquired a new position in shares of Pinterest during the 2nd quarter worth approximately $5,045,000. Finally, Quantbot Technologies LP raised its stake in shares of Pinterest by 217.8% during the 2nd quarter. Quantbot Technologies LP now owns 118,749 shares of the company’s stock worth $5,233,000 after buying an additional 81,380 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PINS. JPMorgan Chase & Co. reduced their target price on Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Wolfe Research began coverage on Pinterest in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Morgan Stanley upped their target price on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $48.00 price target on shares of Pinterest in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group increased their target price on Pinterest from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.32.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the transaction, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

Shares of NYSE PINS opened at $31.94 on Wednesday. Pinterest, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $45.19. The firm has a market capitalization of $21.92 billion, a PE ratio of 118.30, a price-to-earnings-growth ratio of 2.56 and a beta of 1.01. The stock’s 50-day simple moving average is $31.63 and its 200-day simple moving average is $36.46.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The company had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. During the same period last year, the business posted ($0.04) EPS. The company’s revenue was up 20.6% on a year-over-year basis. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Pinterest Company 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.