Sumitomo Mitsui Trust Group Inc. Sells 1,360,389 Shares of Pinterest, Inc. $PINS

Key Points

• Sumitomo Mitsui Trust Group cut its Pinterest stake by 26.1% in the fourth quarter, selling 1,360,389 shares and leaving it with 3,842,640 shares (0.57% of the company) valued at $99,486,000 per its latest 13F filing.
• Analyst sentiment is mixed: MarketBeat shows an average rating of "Hold" with an average price target of $25.42, while Pinterest shares trade near $18 and the company has a market cap of about $12 billion.
• Insiders and institutions remain significant owners—insiders hold 7.06% (including a recent sale of 2,293 shares by Malik Ducard) and institutional investors own roughly 88.81% of Pinterest's stock.

Sumitomo Mitsui Trust Group Inc. reduced its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 26.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,842,640 shares of the company's stock after selling 1,360,389 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.57% of Pinterest worth $99,486,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. N.E.W. Advisory Services LLC boosted its stake in shares of Pinterest by 505.7% during the third quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company's stock valued at $27,000 after purchasing an additional 713 shares in the last quarter. Atlantic Union Bankshares Corp boosted its stake in shares of Pinterest by 3,839.1% during the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company's stock valued at $29,000 after purchasing an additional 883 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Pinterest by 46.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company's stock valued at $42,000 after purchasing an additional 419 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Pinterest by 2,409.1% during the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company's stock valued at $44,000 after purchasing an additional 1,325 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Pinterest during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PINS shares. Weiss Ratings downgraded shares of Pinterest from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, April 2nd. BMO Capital Markets set a $28.00 price objective on shares of Pinterest and gave the company an "outperform" rating in a research note on Friday, February 13th. HSBC downgraded shares of Pinterest from a "buy" rating to a "hold" rating and set a $24.90 price objective on the stock. in a research note on Friday, January 30th. Cantor Fitzgerald set a $18.00 price objective on shares of Pinterest in a research note on Friday, February 13th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and set a $20.00 price objective on shares of Pinterest in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Pinterest has an average rating of "Hold" and an average price target of $25.42.

Insider Activity

In other Pinterest news, insider Malik Ducard sold 2,293 shares of the firm's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $22.06, for a total value of $50,583.58. Following the completion of the transaction, the insider owned 695,187 shares of the company's stock, valued at approximately $15,335,825.22. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.06% of the company's stock.

Pinterest Trading Up 2.3%

NYSE PINS opened at $18.02 on Tuesday. The company has a fifty day simple moving average of $18.31 and a two-hundred day simple moving average of $24.62. The stock has a market cap of $11.99 billion, a P/E ratio of 29.54, a P/E/G ratio of 1.15 and a beta of 0.88. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $39.93.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.68 by ($0.01). The company had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.33 billion. Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The company's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 EPS. As a group, sell-side analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate "Pins" — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company's primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.

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