OVERSEA CHINESE BANKING Corp Ltd Sells 6,451 Shares of Pinterest, Inc. (NYSE:PINS)

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in Pinterest, Inc. (NYSE:PINS) by 28.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,365 shares of the company’s stock after selling 6,451 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Pinterest were worth $479,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the transaction, the insider now owns 254,211 shares of the company’s stock, valued at $8,350,831.35. This trade represents a 2.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the transaction, the director now directly owns 30,236 shares in the company, valued at $920,081.48. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 207,812 shares of company stock worth $6,798,857 over the last 90 days. 7.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, February 7th. Wells Fargo & Company boosted their target price on shares of Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Royal Bank of Canada boosted their target price on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Stifel Nicolaus restated a “buy” rating and issued a $50.00 target price (up previously from $45.00) on shares of Pinterest in a report on Friday, February 7th. Finally, Morgan Stanley boosted their target price on shares of Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.30.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $31.40 on Friday. The firm has a fifty day moving average price of $34.35 and a 200 day moving average price of $32.27. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm has a market cap of $21.29 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last issued its earnings results 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 return on equity of 8.10% and a net margin of 51.07%. As a group, research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current 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.