Empirical Capital Management LLC Reduces Stake in Pinterest, Inc. (NYSE:PINS)

Empirical Capital Management LLC lowered its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 23.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 205,024 shares of the company's stock after selling 63,000 shares during the quarter. Pinterest accounts for approximately 4.6% of Empirical Capital Management LLC's investment portfolio, making the stock its 9th largest position. Empirical Capital Management LLC's holdings in Pinterest were worth $6,637,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PINS. Weiss Asset Management LP acquired a new position in Pinterest in the third quarter worth approximately $1,296,000. State Street Corp grew its holdings in shares of Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company's stock worth $413,483,000 after acquiring an additional 156,748 shares during the last quarter. Stifel Financial Corp raised its position in shares of Pinterest by 8.8% during the third quarter. Stifel Financial Corp now owns 234,128 shares of the company's stock worth $7,579,000 after purchasing an additional 18,936 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Pinterest by 83.8% during the third quarter. Quantinno Capital Management LP now owns 24,625 shares of the company's stock valued at $797,000 after purchasing an additional 11,230 shares during the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings in shares of Pinterest by 4.9% during the third quarter. Royal London Asset Management Ltd. now owns 278,460 shares of the company's stock valued at $9,014,000 after purchasing an additional 13,107 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PINS shares. Rosenblatt Securities dropped their price target on Pinterest from $48.00 to $46.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Robert W. Baird dropped their target price on shares of Pinterest from $41.00 to $36.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their price target on shares of Pinterest from $38.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, November 8th. UBS Group decreased their price objective on shares of Pinterest from $52.00 to $46.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Finally, Wedbush raised shares of Pinterest from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $41.65.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the business's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the sale, the chief accounting officer now owns 158,468 shares of the company's stock, valued at $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,287 shares of company stock worth $1,547,820 over the last three months. Corporate insiders own 7.11% of the company's stock.

Pinterest Stock Performance

Shares of Pinterest stock traded up $0.70 during midday trading on Friday, reaching $32.28. 9,242,646 shares of the company's stock traded hands, compared to its average volume of 13,634,317. The company has a market cap of $21.82 billion, a price-to-earnings ratio of 107.60, a price-to-earnings-growth ratio of 2.28 and a beta of 1.02. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The company's 50 day simple moving average is $31.77 and its 200 day simple moving average is $35.06.

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.