First Trust Advisors LP Sells 2,200,060 Shares of Pinterest, Inc. (NYSE:PINS)

First Trust Advisors LP reduced its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 81.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 493,564 shares of the company's stock after selling 2,200,060 shares during the quarter. First Trust Advisors LP owned approximately 0.07% of Pinterest worth $14,313,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. FMR LLC boosted its stake in Pinterest by 2.6% in the fourth quarter. FMR LLC now owns 12,599,356 shares of the company's stock valued at $365,381,000 after acquiring an additional 316,633 shares during the period. Norges Bank acquired a new position in Pinterest during the 4th quarter valued at approximately $358,205,000. Marshall Wace LLP grew 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 worth $310,352,000 after buying an additional 6,129,985 shares during the last quarter. Geode Capital Management LLC increased its position in Pinterest by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 9,648,352 shares of the company's stock worth $279,281,000 after buying an additional 181,767 shares during the period. Finally, Ninety One UK Ltd lifted its stake in Pinterest by 5.4% in the fourth quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company's stock valued at $158,677,000 after buying an additional 278,362 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total value of $3,180,906.28. Following the transaction, the director now directly owns 6,274 shares of the company's stock, valued at approximately $195,497.84. This trade represents a 94.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the sale, the insider now directly owns 254,211 shares of the company's stock, valued at $8,350,831.35. The trade was a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 453,836 shares of company stock valued at $14,828,392 in the last three months. Corporate insiders own 7.11% of the company's stock.

Pinterest Stock Performance

NYSE:PINS traded up $1.64 during trading hours on Friday, hitting $27.13. 6,613,329 shares of the company's stock traded hands, compared to its average volume of 10,398,240. The stock's fifty day moving average price is $29.87 and its two-hundred day moving average price is $31.43. The firm has a market cap of $18.40 billion, a P/E ratio of 10.08, a P/E/G ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. On average, equities research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PINS shares. Morgan Stanley dropped their price objective on shares of Pinterest from $42.00 to $28.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Cantor Fitzgerald lifted their price target on Pinterest from $36.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Guggenheim reissued a "buy" rating on shares of Pinterest in a report on Tuesday, April 1st. Piper Sandler cut their target price on Pinterest from $41.00 to $34.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, Citigroup decreased their price target on Pinterest from $47.00 to $38.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. According to MarketBeat, Pinterest has an average rating of "Moderate Buy" and an average price target of $40.93.

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.