M&T Bank Corp Sells 3,694 Shares of Pinterest, Inc. (NYSE:PINS)

M&T Bank Corp cut its holdings in Pinterest, Inc. (NYSE:PINS) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,985 shares of the company’s stock after selling 3,694 shares during the quarter. M&T Bank Corp’s holdings in Pinterest were worth $2,262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new position in Pinterest in the 4th quarter valued at approximately $28,000. GAMMA Investing LLC lifted its position in Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after acquiring an additional 415 shares in the last quarter. Crewe Advisors LLC lifted its position in Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after acquiring an additional 550 shares in the last quarter. True Wealth Design LLC lifted its position in Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after acquiring an additional 1,487 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its position in Pinterest by 51.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after acquiring an additional 590 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Insider Activity at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total transaction of $35,627.00. Following the sale, the director now owns 31,386 shares in the company, valued at approximately $972,338.28. This represents a 3.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,941 shares of Pinterest stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $35.75, for a total transaction of $140,890.75. Following the transaction, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at $5,152,611.75. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,189 shares of company stock valued at $3,433,811. Insiders own 7.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PINS. TD Cowen began coverage on Pinterest in a research report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price objective on the stock. The Goldman Sachs Group increased their price target on Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a report on Friday, February 7th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. KeyCorp increased their price target on Pinterest from $37.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Barclays increased their price target on Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.47.

Pinterest Stock Down 0.4 %

Shares of Pinterest stock opened at $34.37 on Monday. The firm has a market cap of $23.31 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.95 and a beta of 1.02. The business has a 50-day moving average price of $34.13 and a 200-day moving average price of $32.27. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. On average, equities analysts expect that Pinterest, Inc. will post 0.6 EPS 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.