USS Investment Management Ltd Sells 13,041 Shares of Pinterest, Inc. (NYSE:PINS)

USS Investment Management Ltd trimmed its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 110,347 shares of the company's stock after selling 13,041 shares during the quarter. USS Investment Management Ltd's holdings in Pinterest were worth $3,200,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after acquiring an additional 12,986,310 shares during the last quarter. Norges Bank bought a new stake in Pinterest during the 4th quarter valued at $358,205,000. Marshall Wace LLP raised its stake in Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock valued at $310,352,000 after acquiring an additional 6,129,985 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after purchasing an additional 4,527,902 shares during the period. Finally, Contour Asset Management LLC acquired a new position in shares of Pinterest in the 4th quarter worth $86,330,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PINS. Wells Fargo & Company lowered their price target on Pinterest from $47.00 to $42.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Guggenheim reduced their price objective on Pinterest from $40.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Bank of America reduced their price objective on Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. The Goldman Sachs Group reduced their price objective on Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Monness Crespi & Hardt reduced their price objective on Pinterest from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.26.

Pinterest Trading Up 1.8%

NYSE PINS traded up $0.56 on Tuesday, hitting $31.46. 10,223,008 shares of the company's stock were exchanged, compared to its average volume of 10,822,086. The stock has a 50-day moving average of $28.72 and a 200-day moving average of $31.19. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19. The stock has a market cap of $21.34 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 1.95 and a beta of 0.83.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The firm's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company posted $0.17 earnings per share. As a group, analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Activity at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 408,332 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total transaction of $13,540,289.12. Following the sale, the director now owns 6,274 shares of the company's stock, valued at approximately $208,045.84. This represents a 98.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 12,253 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $32.24, for a total transaction of $395,036.72. Following the sale, the insider now directly owns 228,510 shares in the company, valued at $7,367,162.40. This trade represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 964,343 shares of company stock worth $31,622,701 over the last three months. Company insiders own 7.06% of the company's stock.

About Pinterest

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.