Bronte Capital Management Pty Ltd. Lowers Position in Pinterest, Inc. (NYSE:PINS)

Bronte Capital Management Pty Ltd. cut its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 17.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,116,985 shares of the company's stock after selling 233,598 shares during the period. Pinterest comprises approximately 3.1% of Bronte Capital Management Pty Ltd.'s portfolio, making the stock its 12th largest position. Bronte Capital Management Pty Ltd. owned approximately 0.16% of Pinterest worth $36,157,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PINS. Brown Shipley& Co Ltd purchased a new stake in shares of Pinterest in the second quarter valued at about $25,000. Wellington Shields Capital Management LLC purchased a new stake in shares of Pinterest in the second quarter valued at about $26,000. Hexagon Capital Partners LLC lifted its holdings in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company's stock valued at $33,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company's stock valued at $34,000 after buying an additional 405 shares during the period. Finally, Rothschild Investment LLC purchased a new position in shares of Pinterest during the second quarter valued at approximately $35,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the firm'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 transaction of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the sale, the director now owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.11% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $41.00 price target on shares of Pinterest in a research note on Monday, October 7th. Wolfe Research assumed coverage on shares of Pinterest in a research note on Tuesday, July 16th. They set a "peer perform" rating on the stock. Raymond James cut their price target on shares of Pinterest from $40.00 to $34.00 and set an "outperform" rating on the stock in a research note on Friday. Barclays dropped their price objective on shares of Pinterest from $38.00 to $36.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 31st. Finally, Susquehanna dropped their price objective on shares of Pinterest from $50.00 to $45.00 and set a "positive" rating for the company in a research report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $42.00.

Pinterest Stock Performance

Shares of PINS stock traded up $0.11 during trading on Tuesday, hitting $30.50. 5,172,934 shares of the company were exchanged, compared to its average volume of 9,546,556. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The firm has a market capitalization of $20.93 billion, a price-to-earnings ratio of 102.24, a P/E/G ratio of 2.25 and a beta of 1.02. The business's 50-day simple moving average is $31.79 and its 200 day simple moving average is $36.34.

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.