Private Advisor Group LLC Decreases Stake in Pinterest, Inc. (NYSE:PINS)

Private Advisor Group LLC lowered its stake in Pinterest, Inc. (NYSE:PINS) by 4.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,061 shares of the company’s stock after selling 377 shares during the period. Private Advisor Group LLC’s holdings in Pinterest were worth $293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Shipley& Co Ltd purchased a new position in shares of Pinterest in the second quarter worth $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of Pinterest in the second quarter worth $26,000. Hexagon Capital Partners LLC raised its holdings in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after buying an additional 459 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in shares of Pinterest in the second quarter worth $35,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Trading Up 3.2 %

NYSE:PINS opened at $33.76 on Thursday. The company’s 50-day moving average price is $31.82 and its 200-day moving average price is $36.38. The company has a market cap of $23.16 billion, a P/E ratio of 125.02, a P/E/G ratio of 2.49 and a beta of 1.02. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PINS. Royal Bank of Canada reissued an “outperform” rating and set a $48.00 target price on shares of Pinterest in a report on Thursday, September 12th. Morgan Stanley raised their target price on shares of Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. KeyCorp raised their target price on shares of Pinterest from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Piper Sandler reissued an “overweight” rating and set a $45.00 target price on shares of Pinterest in a report on Friday, September 13th. Finally, Wells Fargo & Company reduced their target price on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.56.

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.