Swiss National Bank Trims Stake in Pinterest, Inc. (NYSE:PINS)

Key Points

• The Swiss National Bank reduced its stake in Pinterest, Inc. by 1.9%, now holding 1,673,200 shares valued at approximately $51.87 million.
• Shares of Pinterest opened at $35.19 and are currently down 10.2%, with an average price target from analysts set at $42.40.
• Insider trades recently included significant sales, with the CFO selling 29,606 shares for about $1 million, indicating a 7.54% decrease in ownership.

Swiss National Bank reduced its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 1.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,673,200 shares of the company's stock after selling 31,900 shares during the period. Swiss National Bank owned approximately 0.25% of Pinterest worth $51,869,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Redwood Investment Management LLC grew its position in shares of Pinterest by 3.2% during the 4th quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock valued at $463,000 after purchasing an additional 495 shares in the last quarter. NorthRock Partners LLC grew its position in Pinterest by 4.7% in the first quarter. NorthRock Partners LLC now owns 11,246 shares of the company's stock worth $349,000 after acquiring an additional 502 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its position in Pinterest by 22.2% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 3,300 shares of the company's stock worth $102,000 after acquiring an additional 600 shares in the last quarter. EP Wealth Advisors LLC grew its position in Pinterest by 9.3% in the fourth quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock worth $223,000 after acquiring an additional 656 shares in the last quarter. Finally, SteelPeak Wealth LLC grew its position in Pinterest by 1.5% in the first quarter. SteelPeak Wealth LLC now owns 46,613 shares of the company's stock worth $1,445,000 after acquiring an additional 670 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Trading Down 10.2%

Shares of NYSE:PINS opened at $35.19 on Monday. The company has a market cap of $23.87 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78. The company has a 50-day moving average price of $36.01 and a 200-day moving average price of $33.13. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The firm had revenue of $998.23 million for the quarter, compared to the consensus estimate of $973.42 million. During the same period last year, the company posted $0.29 earnings per share. The business's revenue was up 16.9% on a year-over-year basis. As a group, research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,510 shares of the firm's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $35.68, for a total value of $410,676.80. Following the completion of the sale, the insider directly owned 390,230 shares in the company, valued at $13,923,406.40. This trade represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Donnelly Julia Brau sold 29,606 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the completion of the sale, the chief financial officer owned 362,890 shares of the company's stock, valued at $12,428,982.50. This trade represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,502,611 shares of company stock valued at $51,602,943 over the last ninety days. 7.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PINS has been the subject of several research reports. JPMorgan Chase & Co. upgraded shares of Pinterest from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $35.00 to $40.00 in a research report on Tuesday, June 3rd. Susquehanna reiterated a "positive" rating and issued a $42.00 target price on shares of Pinterest in a research report on Friday. KeyCorp upped their target price on shares of Pinterest from $40.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. The Goldman Sachs Group cut 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. Finally, Sanford C. Bernstein boosted their price target on shares of Pinterest from $40.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Five analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to data from MarketBeat, Pinterest has an average rating of "Moderate Buy" and a consensus price target of $42.40.

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.

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