Pinterest, Inc. (NYSE:PINS) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC decreased its position in Pinterest, Inc. (NYSE:PINS) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,603,664 shares of the company’s stock after selling 431,286 shares during the period. Clearbridge Investments LLC owned approximately 1.27% of Pinterest worth $249,506,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Whipplewood Advisors LLC acquired a new stake in Pinterest in the fourth quarter worth about $28,000. GAMMA Investing LLC raised its position in shares of Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after buying an additional 415 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after acquiring an additional 1,487 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of 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 acquiring an additional 590 shares in the last quarter. Finally, Manchester Capital Management LLC increased its stake in shares of Pinterest by 17,692.3% during the fourth quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock valued at $67,000 after acquiring an additional 2,300 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

PINS has been the subject of a number of research reports. Rosenblatt Securities increased their price target on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Morgan Stanley raised their target price on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Benchmark raised Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Friday, February 7th. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a report on Friday, January 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Pinterest Stock Down 2.3 %

PINS stock opened at $31.49 on Monday. The company has a 50 day moving average of $34.66 and a two-hundred day moving average of $32.41. The company has a market cap of $21.35 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) 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%. On average, research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the sale, the chief accounting officer now directly owns 144,129 shares in the company, valued at $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the transaction, the insider now directly owns 254,211 shares of the company’s stock, valued at $8,350,831.35. This represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 351,753 shares of company stock worth $11,640,201. 7.11% of the stock is owned by corporate insiders.

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.