Cannell & Spears LLC Sells 153,586 Shares of Pinterest, Inc. (NYSE:PINS)

Cannell & Spears LLC cut its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 53.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 132,080 shares of the company's stock after selling 153,586 shares during the quarter. Cannell & Spears LLC's holdings in Pinterest were worth $3,830,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PINS. Whipplewood Advisors LLC bought a new stake in Pinterest in the fourth quarter valued at about $28,000. GAMMA Investing LLC boosted its stake in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock worth $31,000 after acquiring an additional 415 shares during the last quarter. True Wealth Design LLC grew its holdings in Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company's stock valued at $49,000 after purchasing an additional 1,487 shares during the period. V Square Quantitative Management LLC raised its holdings in Pinterest by 51.5% in 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 grew its holdings in shares of Pinterest by 17,692.3% in the 4th 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 period. Institutional investors and hedge funds own 88.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PINS shares. Wedbush lifted their price objective on Pinterest from $38.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Benchmark raised shares of Pinterest from a "hold" rating to a "buy" rating and set a $55.00 price target on the stock in a research note on Friday, February 7th. Sanford C. Bernstein raised shares of Pinterest from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $34.00 to $47.00 in a research report on Friday, February 7th. Piper Sandler reiterated a "neutral" rating and set a $41.00 target price (up previously from $36.00) on shares of Pinterest in a report on Friday, February 7th. Finally, Roth Capital set a $32.00 target price on Pinterest in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. According to MarketBeat.com, Pinterest currently has an average rating of "Moderate Buy" and an average target price of $43.17.

Remove Ads

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the transaction, the director now owns 30,236 shares of the company's stock, valued at approximately $920,081.48. The trade was a 3.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now owns 144,129 shares of the company's stock, valued at approximately $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 453,836 shares of company stock worth $14,832,336. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Trading Down 6.3 %

NYSE PINS traded down $1.73 during midday trading on Friday, hitting $25.78. The company had a trading volume of 22,729,308 shares, compared to its average volume of 10,226,720. The firm has a 50-day moving average price of $34.40 and a 200-day moving average price of $32.38. The company has a market capitalization of $17.49 billion, a PE ratio of 9.58, a P/E/G ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a twelve month low of $24.91 and a twelve month high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. On average, equities analysts anticipate 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.