ArrowMark Colorado Holdings LLC Sells 129,000 Shares of Pinterest, Inc. (NYSE:PINS)

ArrowMark Colorado Holdings LLC lessened its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 67.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,000 shares of the company's stock after selling 129,000 shares during the period. ArrowMark Colorado Holdings LLC's holdings in Pinterest were worth $2,039,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Baillie Gifford & Co. raised its stake in Pinterest by 9.5% during the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company's stock worth $445,818,000 after acquiring an additional 880,398 shares in the last quarter. Ontario Teachers Pension Plan Board increased its position in 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 purchasing an additional 2,996,750 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Pinterest by 6.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company's stock valued at $262,695,000 after purchasing an additional 380,431 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Pinterest by 8.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company's stock valued at $192,423,000 after buying an additional 460,708 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Pinterest by 31.6% during the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company's stock worth $248,793,000 after buying an additional 1,356,459 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now directly owns 246,921 shares of the company's stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,287 shares of company stock valued at $1,547,820 over the last three months. Corporate insiders own 7.11% of the company's stock.

Pinterest Price Performance

Shares of NYSE:PINS traded up $0.93 during trading on Tuesday, reaching $31.36. 5,730,861 shares of the stock were exchanged, compared to its average volume of 9,598,964. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The stock has a fifty day moving average of $31.80 and a two-hundred day moving average of $35.26. The firm has a market cap of $21.19 billion, a price-to-earnings ratio of 101.40, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Oppenheimer dropped their price target on Pinterest from $45.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Robert W. Baird cut their price target on Pinterest from $41.00 to $36.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. KeyCorp lowered their price objective on Pinterest from $45.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. Royal Bank of Canada reiterated an "outperform" rating and set a $48.00 target price on shares of Pinterest in a research report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pinterest in a research report on Monday, September 23rd. They issued a "buy" rating and a $43.00 price target for the company. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $41.65.

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.