Clearbridge Investments LLC Sells 431,286 Shares of Pinterest, Inc. (NYSE:PINS)

Clearbridge Investments LLC lessened its stake in Pinterest, Inc. (NYSE:PINS) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,603,664 shares of the company’s stock after selling 431,286 shares during the period. Clearbridge Investments LLC’s holdings in Pinterest were worth $249,506,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in shares of Pinterest in the 4th quarter worth approximately $28,000. GAMMA Investing LLC raised its stake in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. True Wealth Design LLC lifted its position in Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after purchasing an additional 1,487 shares during the period. V Square Quantitative Management LLC boosted its stake in Pinterest by 51.5% during the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after buying an additional 590 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in Pinterest by 17,692.3% in the 4th quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock valued at $67,000 after buying an additional 2,300 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 38,596 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $34.27, for a total transaction of $1,322,684.92. Following the completion of the transaction, the chief financial officer now directly owns 231,879 shares in the company, valued at approximately $7,946,493.33. The trade was a 14.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the sale, the chief accounting officer now owns 144,129 shares in the company, valued at $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 351,753 shares of company stock worth $11,640,201 over the last ninety days. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Down 2.3 %

Shares of PINS opened at $31.49 on Monday. The stock’s fifty day simple moving average is $34.66 and its 200-day simple moving average is $32.41. The firm has a market capitalization of $21.35 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PINS shares. Benchmark raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, February 7th. Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Friday, January 10th. Cantor Fitzgerald increased their target price on Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Jefferies Financial Group restated a “hold” rating and set a $32.00 target price (down previously from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price target (up from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Seven 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, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Pinterest 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.