Pictet Asset Management Holding SA Has $75.68 Million Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Pictet Asset Management Holding SA reduced its stake in Pinterest, Inc. (NYSE:PINS) by 30.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,609,483 shares of the company’s stock after selling 1,140,604 shares during the period. Pictet Asset Management Holding SA owned 0.39% of Pinterest worth $75,675,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its holdings in Pinterest by 1.2% during the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after purchasing an additional 156,748 shares during the last quarter. Norges Bank acquired a new stake in shares of Pinterest during the fourth quarter worth $358,205,000. Geode Capital Management LLC boosted its position in shares of Pinterest by 0.8% in the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after acquiring an additional 76,920 shares during the period. Ninety One UK Ltd grew its stake in shares of 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 acquiring an additional 278,362 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Pinterest during the third quarter worth about $153,829,000. 88.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on PINS shares. Wedbush boosted their price objective on shares of Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, February 7th. The Goldman Sachs Group increased their price target on Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $41.00 price objective (up from $36.00) on shares of Pinterest in a report on Friday, February 7th. Wells Fargo & Company increased their target price on Pinterest from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Raymond James raised their price target on Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 6,690 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the sale, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 351,753 shares of company stock worth $11,640,201. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Down 2.3 %

NYSE PINS opened at $31.49 on Friday. The company has a market capitalization of $21.35 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The stock has a fifty day simple moving average of $34.66 and a 200 day simple moving average of $32.39.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share 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%. Research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

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.