Pinterest, Inc. (NYSE:PINS) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its position in Pinterest, Inc. (NYSE:PINS) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,194 shares of the company’s stock after selling 4,224 shares during the quarter. Van ECK Associates Corp’s holdings in Pinterest were worth $2,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Harvey Capital Management Inc. acquired a new position in shares of Pinterest during the fourth quarter worth about $4,775,000. Compound Global Advisors LLC acquired a new position in shares of Pinterest during the fourth quarter worth about $203,000. Savant Capital LLC grew its position in shares of Pinterest by 47.0% during the fourth quarter. Savant Capital LLC now owns 15,094 shares of the company’s stock worth $438,000 after buying an additional 4,827 shares in the last quarter. Stephens Inc. AR grew its position in shares of Pinterest by 100.5% during the fourth quarter. Stephens Inc. AR now owns 56,534 shares of the company’s stock worth $1,639,000 after buying an additional 28,334 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Pinterest during the fourth quarter worth about $375,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Price Performance

Pinterest stock opened at $39.66 on Friday. The business has a 50 day simple moving average of $32.78 and a 200-day simple moving average of $31.78. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The stock has a market capitalization of $26.90 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.93 and a beta of 1.06.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share 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 research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Ratings Changes

PINS has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. TD Cowen started coverage on Pinterest in a report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price target for the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price target (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 price target (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. Finally, Morgan Stanley upped their price target on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.86.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the sale, the director now owns 29,086 shares of the company’s stock, valued at approximately $1,139,880.34. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the sale, the chief accounting officer now directly owns 158,468 shares in the company, valued at $4,893,491.84. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,157 shares of company stock valued at $600,010. Insiders own 7.11% of the company’s stock.

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.