Wellington Management Group LLP Sells 7,481,715 Shares of Pinterest, Inc. (NYSE:PINS)

Wellington Management Group LLP trimmed its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 39.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,550,945 shares of the company’s stock after selling 7,481,715 shares during the quarter. Wellington Management Group LLP’s holdings in Pinterest were worth $334,977,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Whipplewood Advisors LLC purchased a new stake in Pinterest during the fourth quarter valued at approximately $28,000. GAMMA Investing LLC boosted its stake 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 purchasing an additional 415 shares during the period. V Square Quantitative Management LLC grew its holdings in Pinterest by 51.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after purchasing an additional 590 shares during the last quarter. Manchester Capital Management LLC raised its position in Pinterest by 17,692.3% in the 4th quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock worth $67,000 after purchasing an additional 2,300 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in Pinterest by 20.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,564 shares of the company’s stock worth $75,000 after purchasing an additional 429 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Price Performance

Shares of PINS stock opened at $31.02 on Wednesday. The company has a market cap of $21.04 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The stock’s fifty day moving average price is $34.65 and its 200 day moving average price is $32.44. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, equities research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Wanjiku Juanita Walcott sold 12,253 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $32.24, for a total value of $395,036.72. Following the transaction, the insider now owns 228,510 shares in the company, valued at approximately $7,367,162.40. This represents a 5.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred 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 sale, the director now owns 30,236 shares of the company’s stock, valued at approximately $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 351,753 shares of company stock worth $11,640,201 in the last 90 days. Insiders own 7.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wedbush increased their price target on Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Friday, January 10th. The Goldman Sachs Group upped their price target on shares of Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price objective (up previously from $45.00) on shares of Pinterest in a report on Friday, February 7th. Finally, Guggenheim restated a “buy” rating on shares of Pinterest in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

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.