Nikko Asset Management Americas Inc. Sells 291,324 Shares of Pinterest, Inc. (NYSE:PINS)

Nikko Asset Management Americas Inc. lowered its stake in shares of Pinterest, Inc. (NYSE:PINS) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,197,373 shares of the company’s stock after selling 291,324 shares during the quarter. Pinterest comprises 1.3% of Nikko Asset Management Americas Inc.’s portfolio, making the stock its 19th largest position. Nikko Asset Management Americas Inc.’s holdings in Pinterest were worth $121,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Clearwater Capital Advisors LLC increased its position in shares of Pinterest by 25.1% during the fourth quarter. Clearwater Capital Advisors LLC now owns 16,148 shares of the company’s stock valued at $468,000 after buying an additional 3,235 shares during the period. Creative Financial Designs Inc. ADV increased its position in shares of Pinterest by 4.3% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 51,712 shares of the company’s stock valued at $1,500,000 after buying an additional 2,138 shares during the period. Natixis Advisors LLC increased its position in shares of Pinterest by 16.5% during the fourth quarter. Natixis Advisors LLC now owns 124,799 shares of the company’s stock valued at $3,619,000 after buying an additional 17,669 shares during the period. Monimus Capital Management LP purchased a new position in shares of Pinterest during the fourth quarter valued at about $1,619,000. Finally, Poinciana Advisors Group LLC purchased a new position in shares of Pinterest during the fourth quarter valued at about $267,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PINS. Morgan Stanley boosted their price target on shares of Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. TD Cowen began coverage on shares of Pinterest in a report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price objective on the stock. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Friday, January 10th. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Pinterest in a report on Friday, February 7th. Finally, Rosenblatt Securities upped their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.47.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the transaction, the insider now directly owns 254,211 shares of the company’s stock, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the transaction, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,879 shares of company stock valued at $3,653,577 over the last three months. Corporate insiders own 7.11% of the company’s stock.

Pinterest Trading Up 2.5 %

PINS opened at $31.92 on Monday. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The company has a market capitalization of $21.65 billion, a PE ratio of 11.87, a PEG ratio of 1.95 and a beta of 1.02. The firm’s 50 day simple moving average is $34.34 and its two-hundred day simple moving average is $32.28.

Pinterest (NYSE:PINS) last released 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 return on equity of 8.10% and a net margin of 51.07%. Equities analysts forecast that Pinterest, Inc. will post 0.6 earnings per share 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.