Accent Capital Management LLC Decreases Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Accent Capital Management LLC trimmed its position in Pinterest, Inc. (NYSE:PINS) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,454 shares of the company’s stock after selling 354 shares during the period. Accent Capital Management LLC’s holdings in Pinterest were worth $506,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PINS. Allstate Corp purchased a new stake in shares of Pinterest in the fourth quarter valued at about $512,000. DnB Asset Management AS boosted its stake in shares of Pinterest by 1.8% in the fourth quarter. DnB Asset Management AS now owns 101,539 shares of the company’s stock valued at $2,945,000 after purchasing an additional 1,806 shares during the period. Orion Portfolio Solutions LLC increased its position in shares of Pinterest by 30.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 8,215 shares of the company’s stock worth $238,000 after acquiring an additional 1,909 shares during the period. Norges Bank acquired a new stake in Pinterest in the 4th quarter valued at about $358,205,000. Finally, Blair William & Co. IL purchased a new position in Pinterest in the fourth quarter worth approximately $799,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Price Performance

Shares of NYSE:PINS opened at $31.49 on Friday. The company has a market capitalization of $21.35 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The business’s 50 day simple moving average is $34.66 and its 200 day simple moving average is $32.37.

Pinterest (NYSE:PINS) last posted 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%. On average, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PINS shares. Guggenheim upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and upped their price objective for the company from $39.00 to $40.00 in a research note on Monday, March 24th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 target price (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. Raymond James increased their price objective on shares of Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Piper Sandler restated a “neutral” rating and issued a $41.00 price objective (up from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Finally, Barclays raised their target price on shares of Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Insider Activity

In other news, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the sale, the chief accounting officer now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 351,753 shares of company stock valued at $11,640,201 in the last ninety days. 7.11% of the stock is owned by company insiders.

Pinterest Company 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.