Nomura Asset Management Co. Ltd. Sells 37,008 Shares of Pinterest, Inc. (NYSE:PINS)

Nomura Asset Management Co. Ltd. lessened its position in Pinterest, Inc. (NYSE:PINS) by 17.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 171,156 shares of the company’s stock after selling 37,008 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Pinterest were worth $4,964,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in Pinterest in the 4th quarter valued at $358,205,000. Blair William & Co. IL acquired a new position in shares of Pinterest during the fourth quarter valued at about $799,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Pinterest by 224.7% during the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 39,040 shares of the company’s stock valued at $1,132,000 after buying an additional 27,015 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of Pinterest during the fourth quarter worth about $10,202,000. Finally, Howe & Rusling Inc. raised its holdings in shares of Pinterest by 23.3% in the 4th quarter. Howe & Rusling Inc. now owns 164,053 shares of the company’s stock worth $4,758,000 after acquiring an additional 31,041 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on PINS. KeyCorp decreased their price objective on Pinterest from $46.00 to $41.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Raymond James upped their price target on Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Rosenblatt Securities lifted their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company lowered their target price on shares of Pinterest from $47.00 to $42.00 and set an “overweight” rating for the company in a report on Monday. Finally, Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Pinterest Trading Up 0.1 %

Pinterest stock opened at $31.02 on Wednesday. The firm has a 50 day simple moving average of $34.65 and a 200 day simple moving average of $32.44. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The firm has a market capitalization of $21.04 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) 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%. On average, equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 6,690 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the transaction, the insider now owns 254,211 shares of the company’s stock, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 351,753 shares of company stock valued at $11,640,201. 7.11% of the stock is currently owned by corporate 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.