Swiss National Bank Sells 73,900 Shares of Pinterest, Inc. (NYSE:PINS)

Swiss National Bank lessened its holdings in Pinterest, Inc. (NYSE:PINS) by 4.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,705,100 shares of the company’s stock after selling 73,900 shares during the period. Swiss National Bank owned about 0.25% of Pinterest worth $49,448,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Pinterest by 615.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 224,375 shares of the company’s stock worth $6,507,000 after purchasing an additional 192,998 shares during the period. Founders Financial Alliance LLC lifted its stake in shares of Pinterest by 5.9% in the 4th quarter. Founders Financial Alliance LLC now owns 10,056 shares of the company’s stock worth $292,000 after purchasing an additional 560 shares during the period. Clare Market Investments LLC bought a new position in shares of Pinterest in the 4th quarter worth approximately $252,000. Independent Advisor Alliance raised its stake in Pinterest by 26.3% during the 4th quarter. Independent Advisor Alliance now owns 10,916 shares of the company’s stock worth $317,000 after acquiring an additional 2,274 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in Pinterest by 2.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 65,496 shares of the company’s stock worth $1,900,000 after acquiring an additional 1,335 shares during the period. Institutional investors own 88.81% of the company’s stock.

Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction on Monday, March 10th. The stock was sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the sale, the insider now directly owns 254,211 shares in the company, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the sale, the director now owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,879 shares of company stock valued at $3,653,577 over the last three months. 7.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PINS has been the topic of a number of recent analyst reports. Rosenblatt Securities raised their target price on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Piper Sandler restated a “neutral” rating and set a $41.00 target price (up previously from $36.00) on shares of Pinterest in a research note on Friday, February 7th. TD Cowen initiated coverage on shares of Pinterest in a research note on Tuesday, November 26th. They set a “buy” rating and a $38.00 target price on the stock. KeyCorp raised their target price on shares of Pinterest from $37.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Raymond James lifted their price objective on shares of Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.47.

Pinterest Stock Up 2.5 %

NYSE PINS opened at $31.92 on Monday. The company has a fifty day moving average of $34.34 and a two-hundred day moving average of $32.28. The firm has a market capitalization of $21.65 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Equities research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current 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.