Bank of New York Mellon Corp Sells 99,693 Shares of Pinterest, Inc. (NYSE:PINS)

Bank of New York Mellon Corp lessened its stake in Pinterest, Inc. (NYSE:PINS) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,052,011 shares of the company’s stock after selling 99,693 shares during the period. Bank of New York Mellon Corp’s holdings in Pinterest were worth $175,508,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew 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 worth $31,000 after buying an additional 415 shares in the last quarter. Crewe Advisors LLC grew its holdings in Pinterest by 91.1% during the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after acquiring an additional 550 shares in the last quarter. True Wealth Design LLC grew its holdings in Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after acquiring an additional 1,487 shares in the last quarter. V Square Quantitative Management LLC increased its position in Pinterest by 51.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after purchasing an additional 590 shares during the period. Finally, Rakuten Securities Inc. raised its holdings in shares of Pinterest by 44.2% in the 3rd quarter. Rakuten Securities Inc. now owns 2,294 shares of the company’s stock valued at $74,000 after purchasing an additional 703 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on PINS. Cantor Fitzgerald lifted their price objective on shares of Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, February 7th. UBS Group cut their price target on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. The Goldman Sachs Group boosted their price target on Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Wedbush raised their price objective on Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Oppenheimer boosted their target price on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.47.

Pinterest Trading Down 1.9 %

Shares of NYSE:PINS opened at $36.20 on Friday. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The company has a market cap of $24.55 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06. The company’s 50 day moving average is $33.30 and its 200 day moving average is $32.03.

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 return on equity of 8.10% and a net margin of 51.07%. Equities research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at $5,399,072.34. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,117 shares of company stock worth $253,056. Insiders own 7.11% of the company’s stock.

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.