Commonwealth Equity Services LLC Reduces Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Commonwealth Equity Services LLC lessened its holdings in Pinterest, Inc. (NYSE:PINS) by 12.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 58,305 shares of the company’s stock after selling 8,006 shares during the period. Commonwealth Equity Services LLC’s holdings in Pinterest were worth $1,691,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Whipplewood Advisors LLC acquired a new position in shares of Pinterest in the 4th quarter valued at $28,000. GAMMA Investing LLC increased its holdings in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares during the period. True Wealth Design LLC raised its stake in shares of Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after purchasing an additional 1,487 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Pinterest by 51.5% during the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after purchasing an additional 590 shares during the period. Finally, Manchester Capital Management LLC boosted its position in Pinterest by 17,692.3% in the fourth quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock valued at $67,000 after buying an additional 2,300 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the transaction, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. This trade represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,753 shares of company stock valued at $11,640,201 over the last 90 days. 7.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PINS shares. Morgan Stanley raised their price target on shares of Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Friday, January 10th. Wedbush increased their price target on Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Benchmark raised Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, February 7th. Finally, Oppenheimer upped their target price on Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Seven equities research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.33.

Pinterest Stock Down 2.3 %

NYSE PINS opened at $31.49 on Friday. The business’s fifty day simple moving average is $34.66 and its 200-day simple moving average is $32.37. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The firm has a market cap of $21.35 billion, a PE ratio of 11.70, a P/E/G ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current 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.