Flossbach Von Storch AG Has $7.94 Million Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Flossbach Von Storch AG cut its position in shares of Pinterest, Inc. (NYSE:PINS) by 27.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,240 shares of the company’s stock after selling 82,900 shares during the period. Flossbach Von Storch AG’s holdings in Pinterest were worth $7,935,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in Pinterest by 372.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,073,874 shares of the company’s stock valued at $487,394,000 after buying an additional 15,825,757 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Pinterest by 262.8% during the 1st quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company’s stock worth $283,399,000 after acquiring an additional 8,341,222 shares during the period. Norges Bank bought a new position in Pinterest in the 4th quarter valued at approximately $149,748,000. Fred Alger Management LLC lifted its stake in Pinterest by 279,496.9% in the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock valued at $126,286,000 after purchasing an additional 4,670,394 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Pinterest by 43.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after purchasing an additional 3,390,924 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Stock Up 0.8 %

Shares of Pinterest stock traded up $0.27 during trading on Thursday, reaching $33.04. The company’s stock had a trading volume of 983,586 shares, compared to its average volume of 9,483,565. Pinterest, Inc. has a 52-week low of $20.60 and a 52-week high of $41.60. The company has a market cap of $22.43 billion, a price-to-earnings ratio of -546.24, a PEG ratio of 4.48 and a beta of 0.99. The firm’s 50-day moving average is $35.03 and its two-hundred day moving average is $33.94.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The company had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.36 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Roth Mkm increased their price objective on shares of Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Evercore ISI raised their price objective on shares of Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $48.00 price objective on shares of Pinterest in a research note on Tuesday, March 26th. Wedbush raised their price objective on shares of Pinterest from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, KeyCorp raised their price objective on shares of Pinterest from $37.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, February 5th. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and a consensus target price of $37.97.

Insider Buying and Selling at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the transaction, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the completion of the transaction, the director now owns 74,215 shares of the company’s stock, valued at $2,789,741.85. The disclosure for this sale can be found here. Insiders sold 184,471 shares of company stock valued at $6,525,231 in the last quarter. Company insiders own 6.85% of the company’s stock.

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.