Sterling Capital Management LLC Cuts Stake in Pinterest, Inc. (NYSE:PINS)

Sterling Capital Management LLC lessened its stake in shares of Pinterest, Inc. (NYSE:PINS) by 11.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,830 shares of the company’s stock after selling 1,225 shares during the quarter. Sterling Capital Management LLC’s holdings in Pinterest were worth $285,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Pinterest by 2.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock worth $366,000 after purchasing an additional 342 shares during the last quarter. Ethos Financial Group LLC increased its position in Pinterest by 3.1% in the fourth quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock worth $342,000 after buying an additional 350 shares during the last quarter. Amalgamated Bank raised its stake in shares of Pinterest by 0.9% in the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock valued at $1,154,000 after buying an additional 372 shares during the period. GAMMA Investing LLC lifted its position in shares of Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares during the last quarter. Finally, Steph & Co. grew its stake in shares of Pinterest by 6.4% during the 4th quarter. Steph & Co. now owns 7,048 shares of the company’s stock worth $204,000 after acquiring an additional 425 shares during the period. Institutional investors own 88.81% of the company’s stock.

Pinterest Price Performance

Shares of PINS stock opened at $25.17 on Monday. The business has a 50-day moving average of $32.25 and a 200 day moving average of $31.91. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $45.19. The stock has a market capitalization of $17.07 billion, a PE ratio of 9.36, a P/E/G ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Rosenblatt Securities upped their price objective on shares of Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company dropped their price target on shares of Pinterest from $47.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Barclays lifted their price objective on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Bank of America dropped their target price on Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Cantor Fitzgerald lifted their price target on Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.55.

Insider Buying and Selling at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 6,690 shares of the business’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 transaction, the insider now directly owns 254,211 shares of the company’s stock, valued at approximately $8,350,831.35. The trade was a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeremy S. Levine sold 50,535 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $33.98, for a total value of $1,717,179.30. Following the completion of the sale, the director now directly owns 1,156,693 shares of the company’s stock, valued at $39,304,428.14. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 452,686 shares of company stock worth $14,797,342. 7.11% of the stock is currently owned by company insiders.

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.