Sumitomo Mitsui Trust Group Inc. Sells 102,758 Shares of Pinterest, Inc. $PINS

Sumitomo Mitsui Trust Group Inc. lowered its stake in Pinterest, Inc. (NYSE:PINS) by 17.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 471,134 shares of the company’s stock after selling 102,758 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Pinterest were worth $8,900,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Pinterest in the third quarter worth $1,279,000. Greatmark Investment Partners Inc. boosted its position in Pinterest by 20.2% during the 3rd quarter. Greatmark Investment Partners Inc. now owns 30,525 shares of the company’s stock valued at $577,000 after buying an additional 5,125 shares during the period. State of Wyoming grew its holdings in Pinterest by 48.1% in the 3rd quarter. State of Wyoming now owns 16,122 shares of the company’s stock worth $305,000 after acquiring an additional 5,238 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Pinterest by 71.4% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 52,800 shares of the company’s stock worth $997,000 after acquiring an additional 22,000 shares during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in Pinterest by 3.2% in the 3rd quarter. D.A. Davidson & CO. now owns 39,472 shares of the company’s stock worth $746,000 after acquiring an additional 1,218 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Down 4.1%

Shares of Pinterest stock traded down $0.80 on Friday, reaching $18.99. The company’s stock had a trading volume of 10,083,541 shares, compared to its average volume of 14,917,426. Pinterest, Inc. has a 52 week low of $13.84 and a 52 week high of $27.96. The firm’s fifty day simple moving average is $20.32 and its two-hundred day simple moving average is $20.63. The company has a quick ratio of 4.28, a current ratio of 4.28 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 75.94, a P/E/G ratio of 1.44 and a beta of 0.98.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). Pinterest had a net margin of 3.81% and a return on equity of 6.58%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the company posted $0.38 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. Equities analysts anticipate that Pinterest, Inc. will post 0.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

PINS has been the subject of several recent analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Pinterest in a research note on Friday, October 30th. Susquehanna cut their target price on Pinterest from $32.00 to $25.00 and set a “positive” rating on the stock in a research note on Friday, October 30th. Evercore set a $24.00 target price on Pinterest in a research note on Friday, October 30th. BMO Capital Markets restated an “outperform” rating on shares of Pinterest in a report on Friday, October 30th. Finally, Mizuho upped their price target on Pinterest from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Pinterest currently has an average rating of “Hold” and a consensus target price of $25.97.

Insider Buying and Selling at Pinterest

In related news, Director Benjamin Silbermann sold 93,750 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $21.43, for a total value of $2,009,062.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 680,656 shares of company stock valued at $14,279,677 over the last three months. Corporate insiders own 8.09% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc (NYSE: PINS) operates a visual discovery platform that helps people find ideas and inspiration for activities such as home improvement, cooking, fashion, travel and event planning. Users can discover, save and organize images and videos—known as Pins—on personalized boards and explore recommendations based on their interests.

The company also provides tools for businesses and creators to showcase products and content on the platform. Its advertising business includes promoted Pins and other advertising formats designed to help marketers reach users while they are discovering ideas, researching products and planning purchases.