Nikko Asset Management Americas Inc. Sells 291,324 Shares of Pinterest, Inc. (NYSE:PINS)

Nikko Asset Management Americas Inc. lowered its position in shares of Pinterest, Inc. (NYSE:PINS) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,197,373 shares of the company’s stock after selling 291,324 shares during the quarter. Pinterest comprises 1.3% of Nikko Asset Management Americas Inc.’s investment portfolio, making the stock its 19th biggest holding. Nikko Asset Management Americas Inc. owned about 0.62% of Pinterest worth $121,724,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC acquired a new position in shares of Pinterest during the fourth quarter valued at about $28,000. GAMMA Investing LLC raised its holdings in shares of Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after acquiring an additional 415 shares during the last quarter. Crewe Advisors LLC raised its holdings in shares of Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after acquiring an additional 550 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after acquiring an additional 1,487 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in shares of Pinterest by 51.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after acquiring an additional 590 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Raymond James upped their target price on shares of Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Cantor Fitzgerald upped their target price on shares of Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. KeyCorp increased their price objective on shares of Pinterest from $37.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Rosenblatt Securities increased their price objective on shares of Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Wedbush increased their price objective on shares of Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.47.

Insider Buying and Selling

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now directly owns 30,236 shares in the company, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,879 shares of company stock worth $3,653,577 in the last 90 days. 7.11% of the stock is owned by company insiders.

Pinterest Stock Performance

Pinterest stock opened at $31.92 on Monday. The firm’s fifty day moving average price is $34.34 and its 200-day moving average price is $32.28. The stock has a market cap of $21.65 billion, a P/E ratio of 11.87, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

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