TCW Group Inc. Cuts Stake in Pinterest, Inc. (NYSE:PINS)

TCW Group Inc. lowered its position in shares of Pinterest, Inc. (NYSE:PINS) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 657,200 shares of the company’s stock after selling 32,882 shares during the period. TCW Group Inc. owned about 0.10% of Pinterest worth $19,059,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. ING Groep NV purchased a new position in shares of Pinterest during the fourth quarter valued at $9,326,000. Ieq Capital LLC grew its stake in Pinterest by 75.1% in the fourth quarter. Ieq Capital LLC now owns 556,899 shares of the company’s stock valued at $16,150,000 after purchasing an additional 238,766 shares during the last quarter. Private Advisor Group LLC grew its stake in Pinterest by 612.3% in the fourth quarter. Private Advisor Group LLC now owns 64,543 shares of the company’s stock valued at $1,872,000 after purchasing an additional 55,482 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in Pinterest by 6.4% in the fourth quarter. TimesSquare Capital Management LLC now owns 2,088,500 shares of the company’s stock valued at $60,566,000 after purchasing an additional 124,855 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its stake in Pinterest by 31.7% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 532,296 shares of the company’s stock valued at $15,437,000 after purchasing an additional 128,000 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on PINS shares. Wedbush lifted their target price on Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. The Goldman Sachs Group lifted their target price on Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Morgan Stanley lifted their target price on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Friday, February 7th. Finally, Robert W. Baird cut their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.47.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 29,086 shares in the company, valued at $1,139,880.34. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,157 shares of company stock valued at $600,010. 7.11% of the stock is owned by company insiders.

Pinterest Trading Down 4.8 %

Shares of NYSE:PINS opened at $37.68 on Friday. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The company has a market capitalization of $25.55 billion, a PE ratio of 14.01, a PEG ratio of 1.95 and a beta of 1.06. The business has a 50 day moving average of $32.92 and a two-hundred day moving average of $31.86.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Equities research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Pinterest 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.