Sumitomo Mitsui DS Asset Management Company Ltd Has $3.30 Million Stock Position in Pinterest, Inc. (NYSE:PINS)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Pinterest, Inc. (NYSE:PINS) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 88,980 shares of the company’s stock after purchasing an additional 3,734 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Pinterest were worth $3,296,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Rakuten Securities Inc. bought a new position in shares of Pinterest in the fourth quarter worth $30,000. Washington Trust Advisors Inc. grew its position in Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares during the last quarter. Blue Trust Inc. grew its position in Pinterest by 87.7% in the fourth quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock valued at $44,000 after acquiring an additional 557 shares during the last quarter. Global Retirement Partners LLC grew its position in Pinterest by 396.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,300 shares of the company’s stock valued at $48,000 after acquiring an additional 1,038 shares during the last quarter. Finally, Clear Street Markets LLC bought a new position in Pinterest in the third quarter valued at about $41,000. Institutional investors own 88.81% of the company’s stock.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares in the company, valued at $13,521,174.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares in the company, valued at $13,521,174.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $37.59, for a total value of $751,800.00. Following the sale, the director now 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. Insiders sold a total of 184,471 shares of company stock worth $6,525,231 over the last quarter. 6.85% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their target price on Pinterest from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Argus upgraded Pinterest from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Thursday, January 18th. KeyCorp lifted their target price on Pinterest from $37.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, February 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 target price on shares of Pinterest in a research report on Friday, February 9th. Finally, Evercore ISI boosted their price target on Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $37.97.

Pinterest Stock Performance

Shares of PINS opened at $33.02 on Wednesday. Pinterest, Inc. has a 52-week low of $20.60 and a 52-week high of $41.60. The business’s 50 day moving average price is $34.74 and its two-hundred day moving average price is $34.12. The firm has a market cap of $22.42 billion, a PE ratio of -550.24, a price-to-earnings-growth ratio of 4.49 and a beta of 0.99.

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

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.