Lazard Asset Management LLC Sells 10,842 Shares of Pinterest, Inc. (NYSE:PINS)

Lazard Asset Management LLC lessened its stake in shares of Pinterest, Inc. (NYSE:PINSGet Rating) by 17.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,426 shares of the company’s stock after selling 10,842 shares during the quarter. Lazard Asset Management LLC’s holdings in Pinterest were worth $915,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Pinterest by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 50,128,803 shares of the company’s stock valued at $1,233,670,000 after purchasing an additional 958,619 shares during the period. Flossbach Von Storch AG boosted its stake in Pinterest by 15.5% during the 1st quarter. Flossbach Von Storch AG now owns 31,376,971 shares of the company’s stock valued at $772,187,000 after purchasing an additional 4,211,422 shares during the period. Harris Associates L P boosted its stake in Pinterest by 19,142.5% during the 1st quarter. Harris Associates L P now owns 18,558,778 shares of the company’s stock valued at $456,731,000 after purchasing an additional 18,462,331 shares during the period. State Street Corp boosted its stake in Pinterest by 2.0% during the 1st quarter. State Street Corp now owns 12,143,900 shares of the company’s stock valued at $298,861,000 after purchasing an additional 235,403 shares during the period. Finally, Capital International Investors boosted its stake in Pinterest by 33.1% during the 1st quarter. Capital International Investors now owns 11,825,108 shares of the company’s stock valued at $291,016,000 after purchasing an additional 2,940,932 shares during the period. Institutional investors own 70.78% of the company’s stock.

Insider Activity at Pinterest

In other news, CFO Todd R. Morgenfeld sold 55,241 shares of Pinterest stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $23.60, for a total value of $1,303,687.60. Following the completion of the sale, the chief financial officer now directly owns 641,025 shares of the company’s stock, valued at approximately $15,128,190. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Todd R. Morgenfeld sold 55,241 shares of Pinterest stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $23.60, for a total value of $1,303,687.60. Following the completion of the sale, the chief financial officer now directly owns 641,025 shares of the company’s stock, valued at approximately $15,128,190. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Naveen Gavini sold 4,756 shares of Pinterest stock in a transaction on Monday, September 12th. The shares were sold at an average price of $25.47, for a total value of $121,135.32. Following the completion of the sale, the senior vice president now directly owns 492,141 shares of the company’s stock, valued at $12,534,831.27. The disclosure for this sale can be found here. Insiders sold 410,828 shares of company stock valued at $9,905,116 in the last three months. Corporate insiders own 7.58% of the company’s stock.

Pinterest Price Performance

PINS stock opened at $24.52 on Friday. The business has a fifty day moving average price of $23.68 and a 200 day moving average price of $21.75. Pinterest, Inc. has a fifty-two week low of $16.14 and a fifty-two week high of $47.60. The stock has a market capitalization of $16.63 billion, a price-to-earnings ratio of 350.34 and a beta of 0.99.

Wall Street Analyst Weigh In

PINS has been the subject of several recent analyst reports. Credit Suisse Group decreased their target price on Pinterest from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, October 28th. The Goldman Sachs Group upgraded Pinterest from a “neutral” rating to a “buy” rating and increased their target price for the company from $24.00 to $31.00 in a research note on Wednesday, October 5th. TheStreet upgraded Pinterest from a “d+” rating to a “c-” rating in a research report on Tuesday, August 16th. Evercore ISI raised their price objective on Pinterest from $24.00 to $28.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 2nd. Finally, Susquehanna Bancshares upgraded Pinterest to a “positive” rating and raised their price objective for the stock from $22.00 to $35.00 in a research report on Tuesday, August 2nd. Sixteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.68.

Pinterest Profile

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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