Van ECK Associates Corp Sells 41,136 Shares of Pinterest, Inc. (NYSE:PINS)

Van ECK Associates Corp lowered its position in Pinterest, Inc. (NYSE:PINS) by 41.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,055 shares of the company’s stock after selling 41,136 shares during the period. Van ECK Associates Corp’s holdings in Pinterest were worth $2,187,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PINS. Cambridge Investment Research Advisors Inc. raised its position in shares of Pinterest by 5.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,809 shares of the company’s stock worth $1,157,000 after acquiring an additional 2,247 shares in the last quarter. Raymond James & Associates grew its stake in shares of Pinterest by 28.8% in the 3rd quarter. Raymond James & Associates now owns 488,012 shares of the company’s stock worth $13,191,000 after buying an additional 109,223 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Pinterest by 31.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 112,753 shares of the company’s stock worth $3,048,000 after buying an additional 27,087 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Pinterest by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,484,116 shares of the company’s stock worth $67,146,000 after buying an additional 39,431 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Pinterest by 9.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 109,903 shares of the company’s stock worth $2,971,000 after buying an additional 9,689 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of Pinterest stock opened at $41.92 on Wednesday. Pinterest, Inc. has a one year low of $20.88 and a one year high of $42.09. The stock’s fifty day moving average is $35.03 and its 200 day moving average is $34.79. The stock has a market cap of $28.64 billion, a P/E ratio of 199.63, a P/E/G ratio of 4.02 and a beta of 0.99.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The company had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. Analysts predict that Pinterest, Inc. will post 0.43 EPS for the current year.

Analyst Upgrades and Downgrades

PINS has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Roth Mkm upped their price target on Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI upped their price target on Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. BMO Capital Markets upped their price target on Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, Citigroup increased their target price on Pinterest from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.26.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the transaction, the director now directly owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the sale, the director now directly owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $36.65, for a total value of $733,000.00. Following the sale, the director now directly owns 54,215 shares in the company, valued at $1,986,979.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,471 shares of company stock valued at $5,773,431. 7.11% of the stock is owned by company insiders.

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.