Sumitomo Mitsui Trust Group Inc. Increases Stock Position in Pinterest, Inc. (NYSE:PINS)

Sumitomo Mitsui Trust Group Inc. increased its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 3.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,793,534 shares of the company's stock after acquiring an additional 205,879 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.85% of Pinterest worth $179,600,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PINS. Bartlett & CO. Wealth Management LLC purchased a new position in Pinterest in the 1st quarter worth approximately $25,000. Garde Capital Inc. bought a new stake in shares of Pinterest during the 1st quarter worth $26,000. Whipplewood Advisors LLC purchased a new position in Pinterest in the fourth quarter worth $28,000. NBC Securities Inc. increased its stake in Pinterest by 99,900.0% in the first quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after acquiring an additional 999 shares during the last quarter. Finally, American National Bank & Trust bought a new position in Pinterest in the first quarter valued at $32,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Pinterest Stock Down 0.4%

Shares of NYSE PINS traded down $0.16 on Monday, reaching $35.80. 2,466,905 shares of the company's stock traded hands, compared to its average volume of 10,999,064. The business's 50 day simple moving average is $31.25 and its two-hundred day simple moving average is $31.75. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $44.06. The company has a market cap of $24.28 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) 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 company had revenue of $854.99 million for the quarter, compared to analysts' expectations of $848.49 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The firm's quarterly revenue was up 15.5% compared to the same quarter last year. Analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Benjamin Silbermann sold 102,083 shares of the firm'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 transaction of $3,192,135.41. Following the completion of the sale, the director now owns 6,274 shares of the company's stock, valued at $196,187.98. This trade represents a 94.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $31.97, for a total value of $36,765.50. Following the completion of the transaction, the director now directly owns 25,636 shares in the company, valued at $819,582.92. This trade represents a 4.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,164,852 shares of company stock worth $38,812,675 over the last three months. 7.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PINS. Oppenheimer upped their price objective on Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Stifel Nicolaus reduced their price target on shares of Pinterest from $50.00 to $36.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Wedbush restated an "outperform" rating and issued a $40.00 price objective (up from $38.00) on shares of Pinterest in a report on Friday, May 9th. Wells Fargo & Company cut their price objective on shares of Pinterest from $47.00 to $42.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Finally, Barclays decreased their target price on shares of Pinterest from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Six analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to MarketBeat, Pinterest currently has an average rating of "Moderate Buy" and an average target price of $40.52.

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.