Pinterest, Inc. (NYSE:PINS) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. cut its stake in Pinterest, Inc. (NYSE:PINS) by 8.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,917,829 shares of the company’s stock after selling 790,867 shares during the period. Baillie Gifford & Co.’s holdings in Pinterest were worth $258,617,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. State Street Corp boosted its position in shares of Pinterest by 1.2% in the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after acquiring an additional 156,748 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Pinterest by 0.8% in the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after acquiring an additional 76,920 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its position in 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 buying an additional 2,996,750 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Pinterest by 8.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock valued at $192,423,000 after buying an additional 460,708 shares in the last quarter. Finally, Ninety One UK Ltd lifted its position in Pinterest by 5.4% during the fourth quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock valued at $158,677,000 after buying an additional 278,362 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the transaction, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the transaction, the director now directly owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. This trade represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,157 shares of company stock valued at $589,131. 7.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PINS. JPMorgan Chase & Co. reduced their price target on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company lifted their price target on shares of Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. UBS Group reduced their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. KeyCorp lifted their price objective on shares of Pinterest from $37.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Sanford C. Bernstein upgraded shares of Pinterest from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $34.00 to $47.00 in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.86.

Pinterest Price Performance

PINS stock opened at $38.96 on Monday. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The firm has a fifty day moving average price of $32.19 and a two-hundred day moving average price of $31.55. The firm has a market cap of $26.33 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.72 and a beta of 1.06.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 9.20%. As a group, analysts expect that Pinterest, Inc. will post 0.59 EPS 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.