Bank of New York Mellon Corp Reduces Holdings in Pinterest, Inc. (NYSE:PINS)

Bank of New York Mellon Corp lowered its stake in shares of Pinterest, Inc. (NYSE:PINS) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,052,011 shares of the company’s stock after selling 99,693 shares during the quarter. Bank of New York Mellon Corp owned about 0.90% of Pinterest worth $175,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in shares of Pinterest by 3,154.6% during the 3rd quarter. International Assets Investment Management LLC now owns 29,845 shares of the company’s stock valued at $922,000 after buying an additional 28,928 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Pinterest by 34.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,568 shares of the company’s stock worth $1,281,000 after acquiring an additional 10,228 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in Pinterest in the third quarter worth about $496,000. abrdn plc increased its stake in shares of Pinterest by 31.0% during the third quarter. abrdn plc now owns 121,639 shares of the company’s stock valued at $3,937,000 after purchasing an additional 28,769 shares in the last quarter. Finally, Diversify Advisory Services LLC lifted its holdings in shares of Pinterest by 4.9% during the third quarter. Diversify Advisory Services LLC now owns 21,237 shares of the company’s stock valued at $678,000 after purchasing an additional 999 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the transaction, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This represents a 2.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the sale, the director now directly owns 30,236 shares in the company, valued at $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. Over the last 90 days, insiders sold 7,117 shares of company stock worth $253,056. 7.11% of the stock is owned by corporate insiders.

Pinterest Trading Down 1.9 %

NYSE PINS opened at $36.20 on Friday. The stock has a market cap of $24.55 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 1.95 and a beta of 1.06. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The company’s 50 day moving average is $33.30 and its two-hundred day moving average is $32.03.

Pinterest (NYSE:PINS) last issued 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 return on equity of 8.10% and a net margin of 51.07%. Sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

PINS has been the topic of several recent research reports. KeyCorp upped their price target on Pinterest from $37.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Guggenheim raised their price target on Pinterest from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Cantor Fitzgerald upped their price target on shares of Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Roth Mkm reduced their price objective on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Finally, Oppenheimer upped their target price on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.47.

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.