Pinterest, Inc. (NYSE:PINS) Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,539,482 shares of the company's stock after selling 115,549 shares during the period. Jennison Associates LLC owned about 0.23% of Pinterest worth $57,022,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PINS. AE Wealth Management LLC raised its holdings in shares of Pinterest by 28.3% during the 3rd quarter. AE Wealth Management LLC now owns 12,085 shares of the company's stock valued at $327,000 after buying an additional 2,662 shares in the last quarter. ARK Investment Management LLC grew its position in shares of Pinterest by 23.0% in the 3rd quarter. ARK Investment Management LLC now owns 572,563 shares of the company's stock worth $15,476,000 after buying an additional 107,051 shares during the last quarter. Greenwood Capital Associates LLC bought a new stake in shares of Pinterest in the 3rd quarter worth approximately $3,923,000. Oak Thistle LLC bought a new stake in shares of Pinterest in the 3rd quarter worth approximately $846,000. Finally, Handelsbanken Fonder AB grew its position in shares of Pinterest by 4.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 281,156 shares of the company's stock worth $7,600,000 after buying an additional 11,811 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pinterest

In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the business's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the sale, the insider now owns 500,504 shares of the company's stock, valued at $17,762,886.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Sabrina Ellis sold 24,410 shares of the company's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the transaction, the insider now owns 500,504 shares of the company's stock, valued at $17,762,886.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the company's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the transaction, the director now directly owns 74,215 shares of the company's stock, valued at approximately $2,789,741.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,471 shares of company stock valued at $6,525,231. Company insiders own 6.85% of the company's stock.

Pinterest Stock Performance

Shares of PINS stock traded down $0.17 during mid-day trading on Wednesday, hitting $32.85. The company's stock had a trading volume of 8,500,316 shares, compared to its average volume of 9,414,656. Pinterest, Inc. has a 52-week low of $20.60 and a 52-week high of $41.60. The business has a 50-day moving average price of $34.68 and a 200 day moving average price of $34.16. The stock has a market cap of $22.30 billion, a price-to-earnings ratio of -547.41, a PEG ratio of 4.49 and a beta of 0.99.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. The company had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. Equities research analysts predict that Pinterest, Inc. will post 0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PINS. Roth Mkm lifted their price objective on Pinterest from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, February 9th. Rosenblatt Securities reiterated a "buy" rating and issued a $45.00 price objective on shares of Pinterest in a research report on Friday, February 9th. BMO Capital Markets began coverage on Pinterest in a research report on Tuesday, January 9th. They issued an "outperform" rating and a $45.00 price objective on the stock. Piper Sandler restated an "overweight" rating and set a $48.00 price target on shares of Pinterest in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada lifted their price target on Pinterest from $46.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $37.68.

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.