Townsquare Capital LLC Trims Position in Pinterest, Inc. (NYSE:PINS)

Townsquare Capital LLC reduced its position in Pinterest, Inc. (NYSE:PINS) by 3.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,600 shares of the company’s stock after selling 1,547 shares during the quarter. Townsquare Capital LLC’s holdings in Pinterest were worth $1,347,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Brown Shipley& Co Ltd bought a new position in shares of Pinterest in the second quarter worth $25,000. Wellington Shields Capital Management LLC purchased a new position in Pinterest during the second quarter worth about $26,000. Hexagon Capital Partners LLC increased its stake in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after acquiring an additional 459 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 in the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of Pinterest during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PINS. UBS Group lowered their target price on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Piper Sandler restated an “overweight” rating and set a $41.00 price objective (down previously from $45.00) on shares of Pinterest in a research report on Friday, November 8th. Robert W. Baird cut their target price on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Oppenheimer lowered their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. cut their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $41.65.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the sale, the director now owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. The trade was a 3.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $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. In the last three months, insiders have sold 48,287 shares of company stock worth $1,547,820. 7.11% of the stock is currently owned by insiders.

Pinterest Price Performance

Shares of NYSE:PINS opened at $30.32 on Monday. The stock’s 50-day moving average is $31.80 and its 200 day moving average is $35.35. The company has a market cap of $20.49 billion, a PE ratio of 101.07, a P/E/G ratio of 2.17 and a beta of 1.02. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.

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.