HighTower Advisors LLC Decreases Stock Position in Pinterest, Inc. (NYSE:PINS)

HighTower Advisors LLC decreased its position in Pinterest, Inc. (NYSE:PINS) by 11.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 57,430 shares of the company’s stock after selling 7,373 shares during the period. HighTower Advisors LLC’s holdings in Pinterest were worth $1,665,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new stake in shares of Pinterest during the 4th quarter valued at $28,000. GAMMA Investing LLC increased its holdings in Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after buying an additional 415 shares in the last quarter. Crewe Advisors LLC raised its position in Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after buying an additional 550 shares during the last quarter. True Wealth Design LLC lifted its stake in Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after acquiring an additional 1,487 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in shares of Pinterest by 51.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after acquiring an additional 590 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the sale, the director now directly owns 29,086 shares of the company’s stock, valued at approximately $1,139,880.34. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the transaction, the insider now owns 254,211 shares in the company, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 237,417 shares of company stock valued at $7,803,946. Insiders own 7.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PINS. Guggenheim raised Pinterest from a “neutral” rating to a “buy” rating and increased their target price for the company from $39.00 to $40.00 in a report on Monday. Piper Sandler reissued a “neutral” rating and set a $41.00 price objective (up from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Rosenblatt Securities increased their target price on Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Roth Capital set a $32.00 price target on shares of Pinterest in a report on Monday, February 3rd. Finally, Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $34.00 to $47.00 in a research report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.33.

Pinterest Price Performance

Shares of PINS stock opened at $34.05 on Tuesday. The stock has a 50 day simple moving average of $34.46 and a 200-day simple moving average of $32.31. The company has a market cap of $23.09 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.95 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 (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

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.