Sumitomo Mitsui Trust Group Inc. Decreases Stake in Pinterest, Inc. $PINS

Sumitomo Mitsui Trust Group Inc. lowered its stake in Pinterest, Inc. (NYSE:PINS) by 26.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,842,640 shares of the company’s stock after selling 1,360,389 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Pinterest were worth $99,486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Revolve Wealth Partners LLC purchased a new position in shares of Pinterest during the fourth quarter worth $252,000. Integrated Wealth Concepts LLC raised its holdings in shares of Pinterest by 5.9% during the first quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company’s stock worth $339,000 after purchasing an additional 607 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Pinterest by 45.6% during the first quarter. Empowered Funds LLC now owns 15,168 shares of the company’s stock worth $470,000 after purchasing an additional 4,748 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Pinterest by 39.5% during the second quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company’s stock worth $335,000 after purchasing an additional 2,649 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Pinterest during the second quarter worth $696,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Activity

In other news, insider Malik Ducard sold 2,293 shares of Pinterest stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $22.06, for a total value of $50,583.58. Following the sale, the insider owned 695,187 shares in the company, valued at $15,335,825.22. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PINS has been the subject of several recent research reports. TD Cowen reduced their target price on shares of Pinterest from $44.00 to $36.00 and set a “buy” rating for the company in a report on Friday, February 13th. Robert W. Baird reissued a “neutral” rating and set a $20.00 target price (down from $35.00) on shares of Pinterest in a report on Friday, February 13th. The Goldman Sachs Group reissued a “buy” rating and set a $23.00 target price on shares of Pinterest in a report on Friday, February 13th. Zacks Research raised shares of Pinterest from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Finally, Morgan Stanley reduced their target price on shares of Pinterest from $35.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Pinterest currently has a consensus rating of “Hold” and an average price target of $25.42.

Pinterest Stock Performance

PINS opened at $18.02 on Tuesday. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $39.93. The company has a fifty day moving average of $18.31 and a two-hundred day moving average of $24.62. The stock has a market capitalization of $11.99 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 1.15 and a beta of 0.88.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). Pinterest had a net margin of 9.87% and a return on equity of 7.95%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the firm posted $0.56 EPS. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. On average, equities research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.