Koshinski Asset Management Inc. Lowers Stake in Pinterest, Inc. (NYSE:PINS)

Koshinski Asset Management Inc. cut its position in Pinterest, Inc. (NYSE:PINS) by 28.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,830 shares of the company’s stock after selling 5,114 shares during the period. Koshinski Asset Management Inc.’s holdings in Pinterest were worth $475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PINS. Vanguard Group Inc. raised its holdings in Pinterest by 1.9% during the first quarter. Vanguard Group Inc. now owns 50,128,803 shares of the company’s stock valued at $1,233,670,000 after acquiring an additional 958,619 shares during the period. BlackRock Inc. boosted its stake in shares of Pinterest by 7.4% in the first quarter. BlackRock Inc. now owns 33,930,328 shares of the company’s stock worth $925,280,000 after acquiring an additional 2,349,424 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Pinterest by 28.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,743,947 shares of the company’s stock worth $702,039,000 after purchasing an additional 5,670,073 shares in the last quarter. Macquarie Group Ltd. raised its stake in Pinterest by 1.5% during the 2nd quarter. Macquarie Group Ltd. now owns 13,145,182 shares of the company’s stock valued at $238,716,000 after purchasing an additional 191,507 shares during the period. Finally, State Street Corp raised its stake in Pinterest by 2.0% during the 1st quarter. State Street Corp now owns 12,143,900 shares of the company’s stock valued at $298,861,000 after purchasing an additional 235,403 shares during the period. 88.81% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $36.52, for a total value of $70,629.68. Following the transaction, the director now owns 37,448 shares of the company’s stock, valued at approximately $1,367,600.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $36.52, for a total value of $70,629.68. Following the completion of the sale, the director now owns 37,448 shares in the company, valued at $1,367,600.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the transaction, the insider now directly owns 500,504 shares in the company, valued at approximately $17,762,886.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,471 shares of company stock valued at $6,531,381. 6.85% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PINS shares. Stifel Nicolaus increased their price objective on shares of Pinterest from $26.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Roth Mkm raised their target price on shares of Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price target on shares of Pinterest in a research note on Friday, February 9th. Piper Sandler reissued an “overweight” rating and set a $48.00 price objective on shares of Pinterest in a report on Tuesday, March 26th. Finally, Royal Bank of Canada lifted their target price on Pinterest from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.97.

Pinterest Trading Down 1.4 %

Pinterest stock opened at $33.54 on Monday. The firm has a market capitalization of $22.77 billion, a PE ratio of -558.91, a price-to-earnings-growth ratio of 4.60 and a beta of 0.99. Pinterest, Inc. has a 12-month low of $20.60 and a 12-month high of $41.60. The firm has a 50-day moving average price of $35.50 and a 200-day moving average price of $33.81.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. As a group, sell-side analysts predict that Pinterest, Inc. will post 0.36 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.