Arrowstreet Capital Limited Partnership Sells 145,946 Shares of Pinterest, Inc. $PINS

Arrowstreet Capital Limited Partnership lessened its position in shares of Pinterest, Inc. (NYSE:PINS) by 41.4% during the second quarter, Holdings Channel reports. The institutional investor owned 206,198 shares of the company’s stock after selling 145,946 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Pinterest were worth $7,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in PINS. Lido Advisors LLC purchased a new stake in Pinterest during the second quarter valued at about $269,000. Mackenzie Financial Corp increased its stake in shares of Pinterest by 43.2% in the second quarter. Mackenzie Financial Corp now owns 121,679 shares of the company’s stock worth $4,363,000 after purchasing an additional 36,700 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of Pinterest by 15.5% in the second quarter. Loomis Sayles & Co. L P now owns 557,788 shares of the company’s stock valued at $20,002,000 after purchasing an additional 74,995 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of Pinterest by 94.0% during the 2nd quarter. Neuberger Berman Group LLC now owns 322,653 shares of the company’s stock valued at $11,570,000 after buying an additional 156,377 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Pinterest during the 2nd quarter valued at approximately $477,853,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

NYSE:PINS opened at $27.81 on Thursday. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $40.90. The stock has a fifty day moving average of $29.42 and a 200 day moving average of $33.41. The firm has a market capitalization of $18.79 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 1.72 and a beta of 0.89.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The firm had revenue of $665.93 million for the quarter. Equities analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PINS shares. Wells Fargo & Company reduced their price objective on shares of Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Royal Bank Of Canada cut their price target on Pinterest from $45.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Guggenheim decreased their price objective on Pinterest from $44.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Barclays dropped their price objective on Pinterest from $40.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Finally, Morgan Stanley cut their target price on Pinterest from $41.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average target price of $38.97.

Insider Buying and Selling at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 74,047 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the sale, the insider owned 301,214 shares of the company’s stock, valued at approximately $8,099,644.46. This represents a 19.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total transaction of $3,558,613.38. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 301,042 shares of company stock worth $10,087,667 over the last ninety days. Insiders own 7.06% of the company’s stock.

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.