Pitcairn Co. Lowers Holdings in Pinterest, Inc. (NYSE:PINS)

Pitcairn Co. reduced its stake in shares of Pinterest, Inc. (NYSE:PINS) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,957 shares of the company’s stock after selling 359 shares during the quarter. Pitcairn Co.’s holdings in Pinterest were worth $290,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board boosted 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 acquiring an additional 2,996,750 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in Pinterest during the second quarter worth approximately $98,655,000. Ninety One UK Ltd grew its holdings in Pinterest by 44.6% in the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock valued at $239,991,000 after purchasing an additional 1,679,348 shares during the period. Acadian Asset Management LLC increased its position in shares of Pinterest by 31.6% in the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after buying an additional 1,356,459 shares in the last quarter. Finally, AMI Asset Management Corp acquired a new position in shares of Pinterest during the 2nd quarter worth approximately $57,569,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PINS has been the subject of several recent analyst reports. TD Cowen initiated coverage on shares of Pinterest in a report on Tuesday. They issued a “buy” rating and a $38.00 price target for the company. Wedbush raised shares of Pinterest from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Citigroup reduced their price target on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. KeyCorp lowered their price objective on Pinterest from $45.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Benchmark reiterated a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.63.

Pinterest Trading Down 2.2 %

Shares of PINS opened at $30.33 on Thursday. The company’s 50-day moving average price is $31.81 and its 200 day moving average price is $35.56. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The firm has a market cap of $20.50 billion, a P/E ratio of 101.10, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the transaction, the director now directly owns 32,536 shares in the company, valued at $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The trade was a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,580 shares of company stock worth $1,063,499 over the last three months. Insiders own 7.11% 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.