Sumitomo Mitsui Trust Group Inc. Sells 1,840,023 Shares of Pinterest, Inc. $PINS

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Pinterest, Inc. (NYSE:PINS) by 47.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,002,617 shares of the company’s stock after selling 1,840,023 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Pinterest were worth $36,728,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. lifted its holdings in shares of Pinterest by 0.5% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 173,648 shares of the company’s stock worth $3,176,000 after acquiring an additional 785 shares during the last quarter. Seelaus Asset Management LLC bought a new position in shares of Pinterest during the first quarter valued at approximately $195,000. Oregon Public Employees Retirement Fund raised its holdings in shares of Pinterest by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 120,000 shares of the company’s stock worth $2,201,000 after buying an additional 1,600 shares during the period. Greatmark Investment Partners Inc. bought a new stake in shares of Pinterest during the 1st quarter worth approximately $293,000. Finally, Collaborative Fund Advisors LLC bought a new position in Pinterest in the 1st quarter valued at $1,717,000. 88.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PINS. Weiss Ratings reissued a “sell (d+)” rating on shares of Pinterest in a research note on Tuesday, June 30th. Stifel Nicolaus upped their target price on shares of Pinterest from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Robert W. Baird raised their target price on shares of Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Evercore set a $27.00 price objective on Pinterest in a research note on Tuesday, May 5th. Finally, Barclays raised their price objective on Pinterest from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.42.

Pinterest Stock Up 0.1%

Pinterest stock opened at $22.53 on Monday. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. The firm has a market cap of $12.62 billion, a P/E ratio of 46.94, a P/E/G ratio of 1.27 and a beta of 0.89. The business has a fifty day moving average of $20.76 and a two-hundred day moving average of $20.87. Pinterest, Inc. has a twelve month low of $13.84 and a twelve month high of $39.93.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 EPS. On average, analysts forecast that Pinterest, Inc. will post 0.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total transaction of $42,000.00. Following the completion of the sale, the director directly owned 27,450 shares of the company’s stock, valued at approximately $549,000. This represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $22.63, for a total transaction of $1,060,781.25. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 325,945 shares of company stock worth $6,878,065 over the last quarter. Insiders own 8.09% of the company’s stock.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.