DNB Asset Management AS Decreases Stock Holdings in Pinterest, Inc. (NYSE:PINS)

DNB Asset Management AS trimmed its position in shares of Pinterest, Inc. (NYSE:PINSFree Report) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,444 shares of the company’s stock after selling 2,568 shares during the period. DNB Asset Management AS’s holdings in Pinterest were worth $3,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of PINS. Cohanzick Management LLC purchased a new stake in shares of Pinterest during the 1st quarter worth approximately $25,000. Massmutual Trust Co. FSB ADV raised its holdings in Pinterest by 1,093.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,098 shares of the company’s stock valued at $30,000 after buying an additional 1,006 shares during the period. Clear Street Markets LLC purchased a new stake in Pinterest in the third quarter worth $41,000. Stonebridge Capital Advisors LLC increased its stake in Pinterest by 5,138.9% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,886 shares of the company’s stock worth $46,000 after purchasing an additional 1,850 shares during the period. Finally, First Financial Corp IN purchased a new stake in Pinterest in the third quarter worth $53,000. 72.63% of the stock is owned by hedge funds and other institutional investors.

Pinterest Trading Down 0.6 %

Shares of PINS stock opened at $33.98 on Tuesday. The stock has a 50 day moving average of $36.65 and a 200 day moving average of $32.85. Pinterest, Inc. has a twelve month low of $20.60 and a twelve month high of $41.60.

Pinterest (NYSE:PINSGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. On average, equities research analysts forecast that Pinterest, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $37.95, for a total value of $73,395.30. Following the sale, the director now directly owns 39,382 shares of the company’s stock, valued at $1,494,546.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the sale, the chief financial officer now directly owns 392,829 shares in the company, valued at $13,521,174.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $37.95, for a total value of $73,395.30. Following the sale, the director now owns 39,382 shares of the company’s stock, valued at $1,494,546.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 176,709 shares of company stock worth $6,328,739. 6.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PINS. JPMorgan Chase & Co. increased their price target on Pinterest from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. New Street Research began coverage on Pinterest in a research report on Monday, November 27th. They set a “buy” rating and a $48.00 price target on the stock. BMO Capital Markets began coverage on Pinterest in a research report on Tuesday, January 9th. They set an “outperform” rating and a $45.00 price target on the stock. KeyCorp increased their price target on Pinterest from $37.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, February 5th. Finally, Wedbush increased their price target on Pinterest from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.52.

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About Pinterest

(Free Report)

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.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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