Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 17.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 142,722 shares of the company's stock after buying an additional 21,248 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Pinterest were worth $4,424,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Pinterest in the 1st quarter valued at approximately $25,000. Garde Capital Inc. purchased a new position in shares of Pinterest in the 1st quarter valued at approximately $26,000. NBC Securities Inc. raised its position in shares of Pinterest by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after purchasing an additional 999 shares during the last quarter. American National Bank & Trust purchased a new position in shares of Pinterest in the 1st quarter valued at approximately $32,000. Finally, Golden State Wealth Management LLC raised its position in shares of Pinterest by 665.4% in the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock valued at $38,000 after purchasing an additional 1,058 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Trading Down 0.1%

PINS stock traded down $0.05 during midday trading on Monday, reaching $35.63. The stock had a trading volume of 7,937,479 shares, compared to its average volume of 11,064,126. The company's fifty day simple moving average is $32.49 and its 200 day simple moving average is $31.98. The company has a market cap of $24.17 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.76 and a beta of 0.94. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $44.06.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data 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). Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The firm had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. During the same quarter in the previous year, the business posted $0.17 EPS. The company's revenue for the quarter was up 15.5% on a year-over-year basis. Sell-side analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on PINS shares. KeyCorp increased their price objective on shares of Pinterest from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Bank of America reduced their price target on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Guggenheim reduced their price target on shares of Pinterest from $40.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. raised shares of Pinterest from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $35.00 to $40.00 in a research report on Tuesday, June 3rd. Finally, Stifel Nicolaus reduced their price target on shares of Pinterest from $50.00 to $36.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $40.52.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 29,606 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the transaction, the chief financial officer owned 362,890 shares of the company's stock, valued at approximately $12,428,982.50. The trade was a 7.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 11,510 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $35.68, for a total transaction of $410,676.80. Following the transaction, the insider directly owned 390,230 shares in the company, valued at approximately $13,923,406.40. The trade was a 2.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,176,362 shares of company stock valued at $39,645,976. 7.11% of the stock is currently owned by insiders.

Pinterest 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.