OVERSEA CHINESE BANKING Corp Ltd Trims Stock Position in Pinterest, Inc. (NYSE:PINS)

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 28.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,365 shares of the company’s stock after selling 6,451 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Pinterest were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PINS. Whipplewood Advisors LLC purchased a new position in Pinterest during the fourth quarter worth about $28,000. GAMMA Investing LLC lifted its position in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after buying an additional 415 shares during the period. Crewe Advisors LLC lifted its position in Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after buying an additional 550 shares during the period. True Wealth Design LLC increased its stake in Pinterest by 8,261.1% during the third 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 increased its stake in Pinterest by 51.5% during the fourth 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. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the completion of the sale, the director now directly owns 6,274 shares in the company, valued at $195,497.84. This trade represents a 94.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.85, for a total transaction of $219,766.50. Following the sale, the insider now owns 254,211 shares of the company’s stock, valued at $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 207,812 shares of company stock worth $6,798,857 in the last three months. Insiders own 7.11% of the company’s stock.

Wall Street Analyst Weigh In

PINS has been the subject of several research analyst reports. Cantor Fitzgerald upped their price target on Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Stifel Nicolaus restated a “buy” rating and set a $50.00 price target (up from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Morgan Stanley upped their price target on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Raymond James upped their price target on Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Rosenblatt Securities upped their price target on Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.30.

Pinterest Stock Down 0.6 %

PINS opened at $31.40 on Friday. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The company has a fifty day simple moving average of $34.35 and a 200 day simple moving average of $32.27. The stock has a market cap of $21.29 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last released its 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 return on equity of 8.10% and a net margin of 51.07%. On average, equities research analysts expect 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.