Blueshift Asset Management LLC cut its position in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 34.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,852 shares of the company’s stock after selling 7,886 shares during the quarter. Blueshift Asset Management LLC’s holdings in Pinterest were worth $481,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brown Shipley& Co Ltd purchased a new stake in shares of Pinterest during the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC purchased a new stake in Pinterest during the second quarter worth approximately $26,000. Hexagon Capital Partners LLC increased its position 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 acquiring an additional 459 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after acquiring an additional 405 shares during the period. Finally, Rothschild Investment LLC acquired a new position in shares of Pinterest during the 2nd quarter valued at $35,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their position. The transaction 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 the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the transaction, the director now owns 32,536 shares of the company’s stock, valued at $967,295.28. This trade represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,580 shares of company stock worth $1,063,499. 7.11% of the stock is owned by company insiders.
Pinterest Price Performance
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on PINS. Raymond James lowered their price target on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Benchmark reiterated a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. JPMorgan Chase & Co. dropped their target price on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. TD Cowen started coverage on Pinterest in a report on Tuesday. They issued a “buy” rating and a $38.00 price target for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research note on Thursday, September 12th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.63.
Check Out Our Latest Report on Pinterest
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.
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