Banco Santander S.A. Lowers Position in Pinterest, Inc. (NYSE:PINS)

Banco Santander S.A. lessened its stake in shares of Pinterest, Inc. (NYSE:PINS) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,098 shares of the company’s stock after selling 794 shares during the period. Banco Santander S.A.’s holdings in Pinterest were worth $939,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC increased its position in Pinterest by 11.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 250,616 shares of the company’s stock valued at $8,689,000 after buying an additional 26,346 shares in the last quarter. Kingsview Wealth Management LLC increased its position in Pinterest by 24.7% during the 1st quarter. Kingsview Wealth Management LLC now owns 31,843 shares of the company’s stock valued at $1,104,000 after buying an additional 6,312 shares in the last quarter. Clearwater Capital Advisors LLC increased its position in Pinterest by 29.8% during the 1st quarter. Clearwater Capital Advisors LLC now owns 11,729 shares of the company’s stock valued at $407,000 after buying an additional 2,695 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Pinterest by 18.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 800,886 shares of the company’s stock valued at $27,767,000 after buying an additional 125,035 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in Pinterest by 4.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,071 shares of the company’s stock valued at $23,855,000 after buying an additional 28,261 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of Pinterest stock traded down $0.18 during trading hours on Friday, hitting $40.78. The company’s stock had a trading volume of 10,265,896 shares, compared to its average volume of 6,325,802. The business has a 50 day moving average price of $42.61 and a two-hundred day moving average price of $38.42. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19. The company has a market cap of $27.86 billion, a PE ratio of 194.20, a PEG ratio of 3.98 and a beta of 0.97.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.05. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The business had revenue of $739.98 million for the quarter, compared to the consensus estimate of $699.96 million. As a group, research analysts anticipate that Pinterest, Inc. will post 0.44 earnings per share for the current year.

Insider Activity

In other news, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the transaction, the chief accounting officer now directly owns 189,470 shares in the company, valued at $8,317,733. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total value of $81,711.50. Following the sale, the director now directly owns 29,712 shares in the company, valued at $1,255,332. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the completion of the sale, the chief accounting officer now owns 189,470 shares in the company, valued at $8,317,733. The disclosure for this sale can be found here. Insiders have sold 50,250 shares of company stock worth $2,191,304 over the last ninety days. Corporate insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PINS. Royal Bank of Canada lifted their target price on Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Stifel Nicolaus lifted their target price on Pinterest from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Wolfe Research initiated coverage on Pinterest in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, BMO Capital Markets lifted their price objective on Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Nine analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average target price of $42.04.

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.