Pinterest, Inc. (NYSE:PINS) Stake Reduced by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in Pinterest, Inc. (NYSE:PINS – Get Rating) by 91.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,177 shares of the company’s stock after selling 890,490 shares during the quarter. Russell Investments Group Ltd.’s holdings in Pinterest were worth $1,944,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Arizona State Retirement System increased its position in Pinterest by 4.6% in the 4th quarter. Arizona State Retirement System now owns 164,988 shares of the company’s stock worth $4,006,000 after purchasing an additional 7,194 shares during the last quarter. Knowledge Leaders Capital LLC lifted its position in shares of Pinterest by 4.2% in the 4th quarter. Knowledge Leaders Capital LLC now owns 38,314 shares of the company’s stock worth $930,000 after acquiring an additional 1,538 shares during the period. Vista Wealth Management Group LLC lifted its position in shares of Pinterest by 66.2% in the 4th quarter. Vista Wealth Management Group LLC now owns 18,824 shares of the company’s stock worth $457,000 after acquiring an additional 7,495 shares during the period. Bleakley Financial Group LLC bought a new stake in shares of Pinterest in the 4th quarter worth approximately $245,000. Finally, Handelsbanken Fonder AB lifted its position in shares of Pinterest by 40.4% in the 4th quarter. Handelsbanken Fonder AB now owns 333,615 shares of the company’s stock worth $8,100,000 after acquiring an additional 95,974 shares during the period. Institutional investors own 71.95% of the company’s stock.

Pinterest Stock Performance

Shares of PINS opened at $22.70 on Monday. Pinterest, Inc. has a 52 week low of $16.14 and a 52 week high of $29.27. The stock has a market capitalization of $15.52 billion, a price-to-earnings ratio of -50.44 and a beta of 0.99. The stock has a fifty day moving average of $25.51 and a 200-day moving average of $25.17.

Insider Activity

In related news, CFO Todd R. Morgenfeld sold 60,537 shares of the stock in a transaction on Monday, March 27th. The stock was sold at an average price of $28.32, for a total value of $1,714,407.84. Following the completion of the sale, the chief financial officer now directly owns 512,820 shares in the company, valued at $14,523,062.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Todd R. Morgenfeld sold 60,537 shares of the stock in a transaction on Monday, March 27th. The stock was sold at an average price of $28.32, for a total value of $1,714,407.84. Following the completion of the sale, the chief financial officer now directly owns 512,820 shares in the company, valued at $14,523,062.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Naveen Gavini sold 11,185 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $21.29, for a total value of $238,128.65. Following the sale, the senior vice president now owns 339,322 shares of the company’s stock, valued at $7,224,165.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,648 shares of company stock worth $4,083,099. Insiders own 6.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PINS. Royal Bank of Canada cut their target price on Pinterest from $30.00 to $28.00 and set a “sector perform” rating for the company in a research report on Friday, April 28th. UBS Group cut their price objective on Pinterest from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, April 28th. Rosenblatt Securities lifted their price objective on Pinterest from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, April 28th. DA Davidson cut their price objective on Pinterest from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Wednesday, March 29th. Finally, Roth Capital reiterated a “neutral” rating on shares of Pinterest in a research report on Tuesday, February 7th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of “Hold” and an average price target of $28.40.

Pinterest Company Profile

(Get Rating)

Pinterest, Inc engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. The company was founded by Benjamin Silbermann, Paul C. Sciarra, and Evan Sharp in October 2008 and is headquartered in San Francisco, CA.