OLD National Bancorp IN Sells 25,285 Shares of Pinterest, Inc. (NYSE:PINS)

OLD National Bancorp IN decreased its position in Pinterest, Inc. (NYSE:PINS) by 5.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 433,131 shares of the company’s stock after selling 25,285 shares during the quarter. OLD National Bancorp IN’s holdings in Pinterest were worth $14,020,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PINS. 1832 Asset Management L.P. bought a new position in shares of Pinterest during the second quarter valued at approximately $98,655,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Pinterest by 45.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock valued at $198,846,000 after buying an additional 1,798,494 shares during the last quarter. Ninety One UK Ltd boosted its holdings in Pinterest by 44.6% in the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock worth $239,991,000 after acquiring an additional 1,679,348 shares in the last quarter. Nikko Asset Management Americas Inc. grew its stake in shares of Pinterest by 66.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 4,199,415 shares of the company’s stock worth $145,594,000 after acquiring an additional 1,678,756 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Pinterest by 31.6% during the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after acquiring an additional 1,356,459 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the sale, the director now directly owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

Shares of PINS stock opened at $33.18 on Friday. The stock has a fifty day simple moving average of $31.50 and a two-hundred day simple moving average of $36.49. The firm has a market capitalization of $22.77 billion, a PE ratio of 122.89, a PEG ratio of 2.62 and a beta of 1.01. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. During the same quarter last year, the business posted ($0.04) earnings per share. The firm’s revenue was up 20.6% on a year-over-year basis. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on PINS shares. Oppenheimer assumed coverage on shares of Pinterest in a research report on Tuesday, September 24th. They set an “outperform” rating and a $45.00 price objective on the stock. Susquehanna cut their price target on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a report on Wednesday, July 31st. Citigroup lowered their price objective on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Roth Mkm reduced their target price on Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Finally, Wedbush lowered their price target on Pinterest from $46.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.32.

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.