Sumitomo Mitsui Trust Group Inc. Lowers Holdings in Pinterest, Inc. $PINS

Sumitomo Mitsui Trust Group Inc. decreased its position in Pinterest, Inc. (NYSE:PINS) by 47.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,002,617 shares of the company’s stock after selling 1,840,023 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.30% of Pinterest worth $36,728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Yousif Capital Management LLC increased its position in Pinterest by 2,298.3% in the fourth quarter. Yousif Capital Management LLC now owns 185,170 shares of the company’s stock worth $4,701,000 after buying an additional 177,449 shares in the last quarter. Forsta AP Fonden lifted its position in shares of Pinterest by 61.2% during the 4th quarter. Forsta AP Fonden now owns 397,400 shares of the company’s stock valued at $10,289,000 after buying an additional 150,900 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Pinterest during the 4th quarter valued at approximately $12,812,000. KLP Kapitalforvaltning AS grew its stake in shares of Pinterest by 103.4% during the 4th quarter. KLP Kapitalforvaltning AS now owns 838,500 shares of the company’s stock valued at $21,709,000 after acquiring an additional 426,300 shares during the period. Finally, Freemont Management S.A. purchased a new stake in Pinterest in the 4th quarter worth approximately $2,540,000. 88.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 27,337 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $20.46, for a total transaction of $559,315.02. Following the completion of the transaction, the insider directly owned 724,673 shares in the company, valued at approximately $14,826,809.58. This represents a 3.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gokul Rajaram sold 2,100 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total transaction of $42,000.00. Following the completion of the transaction, the director directly owned 27,450 shares of the company’s stock, valued at approximately $549,000. This trade represents a 7.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 325,945 shares of company stock worth $6,878,065 in the last quarter. 8.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PINS has been the topic of several analyst reports. UBS Group lifted their price target on shares of Pinterest from $29.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Stifel Nicolaus raised their price objective on shares of Pinterest from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Oppenheimer lifted their target price on shares of Pinterest from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Evercore set a $27.00 target price on shares of Pinterest in a report on Tuesday, May 5th. Finally, Benchmark cut their price target on Pinterest from $34.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Seventeen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Pinterest presently has an average rating of “Hold” and a consensus price target of $27.42.

Pinterest Stock Performance

Shares of NYSE PINS opened at $22.53 on Monday. The company has a market cap of $12.62 billion, a P/E ratio of 46.94, a P/E/G ratio of 1.27 and a beta of 0.89. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The firm’s fifty day moving average is $20.76 and its two-hundred day moving average is $20.87.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The business’s revenue was up 17.8% on a year-over-year basis. As a group, analysts anticipate that Pinterest, Inc. will post 0.66 EPS for the current fiscal year.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.