Bronte Capital Management Pty Ltd. Reduces Position in Pinterest, Inc. (NYSE:PINS)

Bronte Capital Management Pty Ltd. decreased its position in Pinterest, Inc. (NYSE:PINS) by 23.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 849,920 shares of the company’s stock after selling 267,065 shares during the period. Pinterest accounts for 3.6% of Bronte Capital Management Pty Ltd.’s investment portfolio, making the stock its 8th biggest holding. Bronte Capital Management Pty Ltd.’s holdings in Pinterest were worth $24,648,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Pinterest by 1.2% during the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after purchasing an additional 156,748 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Pinterest by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after purchasing an additional 76,920 shares during the last quarter. Ontario Teachers Pension Plan Board increased its stake in shares of Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after purchasing an additional 2,996,750 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Pinterest by 8.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after purchasing an additional 460,708 shares during the last quarter. Finally, Ninety One UK Ltd increased its stake in shares of Pinterest by 5.4% during the 4th quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock worth $158,677,000 after purchasing an additional 278,362 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Activity at Pinterest

In other news, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total transaction of $35,627.00. Following the sale, the director now owns 31,386 shares in the company, valued at approximately $972,338.28. The trade was a 3.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,879 shares of company stock worth $3,653,577 over the last 90 days. 7.11% of the stock is owned by company insiders.

Pinterest Stock Down 1.1 %

Shares of NYSE:PINS opened at $31.41 on Wednesday. The company’s fifty day moving average is $34.23 and its 200 day moving average is $32.27. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The stock has a market cap of $21.31 billion, a PE ratio of 11.68, a PEG ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last released its quarterly earnings data 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%. Sell-side analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on PINS. Oppenheimer raised their price objective on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. The Goldman Sachs Group raised their price objective on shares of Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Rosenblatt Securities raised their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Wedbush raised their price objective on shares of Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Benchmark raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.47.

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.