Rockefeller Capital Management L.P. Decreases Holdings in Pinterest, Inc. (NYSE:PINS)

Rockefeller Capital Management L.P. cut its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,886 shares of the company’s stock after selling 1,192 shares during the period. Rockefeller Capital Management L.P.’s holdings in Pinterest were worth $1,505,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PINS. Norges Bank acquired a new stake in Pinterest in the fourth quarter worth about $358,205,000. Schroder Investment Management Group increased its stake in Pinterest by 357.5% during the 4th quarter. Schroder Investment Management Group now owns 2,719,355 shares of the company’s stock valued at $79,269,000 after purchasing an additional 2,125,010 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Pinterest in the fourth quarter worth $61,261,000. Nordea Investment Management AB grew its holdings in shares of Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock valued at $111,515,000 after buying an additional 2,093,248 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Pinterest by 582.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company’s stock valued at $65,741,000 after acquiring an additional 1,934,653 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Buying and Selling at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total value of $3,192,135.41. Following the sale, the director now directly owns 6,274 shares of the company’s stock, valued at approximately $196,187.98. The trade was a 94.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the transaction, the director now directly owns 29,086 shares of the company’s stock, valued at $1,139,880.34. The trade was a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 452,686 shares of company stock worth $14,797,342 over the last quarter. 7.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on PINS. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price objective (up from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Benchmark raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Friday, February 7th. JPMorgan Chase & Co. reduced their target price on shares of Pinterest from $42.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Oppenheimer lifted their price objective on Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Piper Sandler lowered their target price on Pinterest from $41.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Eight investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.55.

Pinterest Trading Down 1.1 %

Shares of PINS opened at $25.17 on Monday. The firm has a 50-day moving average price of $32.25 and a 200 day moving average price of $31.91. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $45.19. The firm has a market capitalization of $17.07 billion, a P/E ratio of 9.36, a P/E/G ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) 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.

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.