Ensign Peak Advisors Inc Sells 13,502 Shares of Pinterest, Inc. (NYSE:PINS)

Ensign Peak Advisors Inc trimmed its position in shares of Pinterest, Inc. (NYSE:PINS) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 452,421 shares of the company’s stock after selling 13,502 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Pinterest were worth $13,120,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new position in Pinterest during the 4th quarter valued at about $28,000. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 415 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in Pinterest by 401.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after purchasing an additional 1,204 shares during the last quarter. V Square Quantitative Management LLC grew its holdings 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 last quarter. Finally, Huntington National Bank grew its holdings in Pinterest by 484.1% during the 4th quarter. Huntington National Bank now owns 2,027 shares of the company’s stock valued at $59,000 after purchasing an additional 1,680 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on PINS. Barclays cut their price target on shares of Pinterest from $42.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday. KeyCorp upped their target price on shares of Pinterest from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup upped their target price on shares of Pinterest from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday. Rosenblatt Securities upped their target price on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Morgan Stanley upped their target price on shares of Pinterest from $28.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and an average price target of $40.27.

Insider Activity at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total transaction of $31,050.00. Following the completion of the sale, the director now owns 26,786 shares of the company’s stock, valued at $723,222. This represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction 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. The trade was a 2.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 453,836 shares of company stock valued at $14,828,392 over the last 90 days. Insiders own 7.06% of the company’s stock.

Pinterest Stock Performance

NYSE PINS opened at $29.23 on Monday. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $45.19. The firm’s 50 day moving average price is $28.84 and its 200-day moving average price is $31.20. The company has a market cap of $19.82 billion, a PE ratio of 10.87, a P/E/G ratio of 1.95 and a beta of 0.83.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The firm had revenue of $854.99 million for the quarter, compared to analysts’ expectations of $848.49 million. During the same period in the previous year, the company earned $0.17 EPS. The company’s revenue was up 15.5% on a year-over-year basis. On average, analysts forecast 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.