UniSuper Management Pty Ltd Sells 28,744 Shares of Pinterest, Inc. (NYSE:PINS)

UniSuper Management Pty Ltd cut its position in shares of Pinterest, Inc. (NYSE:PINS) by 71.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,600 shares of the company’s stock after selling 28,744 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Pinterest were worth $336,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its position in shares of Pinterest by 63.4% in the 3rd quarter. Cerity Partners LLC now owns 52,357 shares of the company’s stock worth $1,695,000 after buying an additional 20,310 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Pinterest by 0.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,982 shares of the company’s stock worth $4,013,000 after purchasing an additional 1,008 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Pinterest by 3.7% during the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after purchasing an additional 339 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Pinterest by 23.9% during the third quarter. Captrust Financial Advisors now owns 50,406 shares of the company’s stock valued at $1,632,000 after purchasing an additional 9,730 shares during the last quarter. Finally, True Wealth Design LLC lifted its holdings in shares of Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after purchasing an additional 1,487 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the transaction, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now directly owns 30,236 shares of the company’s stock, valued at approximately $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. Insiders have sold 351,753 shares of company stock worth $11,640,201 over the last ninety days. Corporate insiders own 7.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PINS shares. Guggenheim raised Pinterest from a “neutral” rating to a “buy” rating and raised their price objective for the company from $39.00 to $40.00 in a research report on Monday, March 24th. Rosenblatt Securities lifted their price target on Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Oppenheimer upped their price target 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. Wedbush raised 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. Finally, Piper Sandler reiterated a “neutral” rating and issued a $41.00 target price (up previously from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.17.

Pinterest Trading Down 1.5 %

NYSE PINS opened at $31.01 on Tuesday. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The stock has a market cap of $21.03 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.95 and a beta of 1.02. The company’s 50 day moving average is $34.67 and its two-hundred day moving average is $32.42.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

About Pinterest

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.