OVERSEA CHINESE BANKING Corp Ltd Trims Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd reduced its holdings in Pinterest, Inc. by 52.5% in the first quarter, owning 7,777 shares after selling 8,588 shares, with holdings valued at $241,000.
• Several other institutional investors increased their stakes in Pinterest, with Price T Rowe Associates Inc. raising its position by 104.3%, holding 25,432,141 shares valued at $737.53 million.
• Pinterest's recent earnings report showed an EPS of $0.23, missing expectations, while revenue rose 15.5% year-over-year to $854.99 million.

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 52.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,777 shares of the company's stock after selling 8,588 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Pinterest were worth $241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new position in shares of Pinterest in the 4th quarter valued at $252,000. Orion Portfolio Solutions LLC raised its stake in Pinterest by 30.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 8,215 shares of the company's stock valued at $238,000 after purchasing an additional 1,909 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Pinterest during the fourth quarter worth $279,000. Geode Capital Management LLC increased its position in Pinterest by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,648,352 shares of the company's stock worth $279,281,000 after purchasing an additional 181,767 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Pinterest by 8.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 911,315 shares of the company's stock valued at $26,428,000 after buying an additional 67,128 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $36.88, for a total value of $42,412.00. Following the sale, the director directly owned 31,750 shares of the company's stock, valued at $1,170,940. This represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Benjamin Silbermann sold 102,083 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $37.95, for a total value of $3,874,049.85. Following the completion of the sale, the director directly owned 8,414 shares in the company, valued at $319,311.30. This trade represents a 92.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,502,611 shares of company stock worth $51,602,943 in the last ninety days. 7.06% of the stock is currently owned by insiders.

Pinterest Stock Up 0.8%

PINS traded up $0.30 during midday trading on Wednesday, hitting $39.18. The company had a trading volume of 10,841,211 shares, compared to its average volume of 8,509,934. The stock's 50 day moving average price is $35.77 and its 200 day moving average price is $33.04. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $40.90. The company has a market capitalization of $26.57 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.95 and a beta of 0.78.

Pinterest (NYSE:PINS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). The business had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. Pinterest's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 EPS. Research analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Upgrades and Downgrades

PINS has been the topic of a number of research reports. Wedbush increased their price target on Pinterest from $40.00 to $42.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Sanford C. Bernstein upped their price target on shares of Pinterest from $40.00 to $45.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group decreased their target price on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Monness Crespi & Hardt cut their price target on Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Wells Fargo & Company set a $42.00 price objective on Pinterest and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Five research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Pinterest presently has an average rating of "Moderate Buy" and a consensus target price of $41.48.

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.