TCW Group Inc. Reduces Holdings in Pinterest, Inc. (NYSE:PINS)

TCW Group Inc. trimmed its position in shares of Pinterest, Inc. (NYSE:PINS) by 4.8% in the 4th quarter, Holdings Channel reports. The firm owned 657,200 shares of the company’s stock after selling 32,882 shares during the period. TCW Group Inc.’s holdings in Pinterest were worth $19,059,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares in the last quarter. Crewe Advisors LLC boosted its stake in Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after buying an additional 550 shares during the last quarter. True Wealth Design LLC boosted its stake in Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after buying an additional 1,487 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in Pinterest by 51.5% during the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after buying an additional 590 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its stake in Pinterest by 17,692.3% during the fourth quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock worth $67,000 after buying an additional 2,300 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total value of $35,627.00. Following the transaction, the director now owns 31,386 shares in the company, valued at approximately $972,338.28. This represents a 3.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the transaction, the chief accounting officer now owns 158,468 shares in the company, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock worth $600,010 in the last quarter. 7.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PINS. Roth Mkm lowered their price objective on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. TD Cowen began coverage on Pinterest in a research note on Tuesday, November 26th. They set a “buy” rating and a $38.00 price objective on the stock. Rosenblatt Securities boosted their price objective on Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company boosted their price objective on Pinterest from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Piper Sandler reissued a “neutral” rating and set a $41.00 price objective (up previously from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.47.

Pinterest Price Performance

Shares of NYSE PINS opened at $37.68 on Friday. The stock’s 50-day moving average is $32.92 and its two-hundred day moving average is $31.86. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The company has a market cap of $25.55 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Equities research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal 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.