FMR LLC trimmed its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 41.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,282,723 shares of the company's stock after selling 8,630,521 shares during the quarter. FMR LLC owned about 1.79% of Pinterest worth $397,592,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Brown Shipley& Co Ltd acquired a new stake in 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 approximately $26,000. Hexagon Capital Partners LLC grew its holdings in Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company's stock worth $33,000 after acquiring an additional 459 shares during the period. GAMMA Investing LLC raised its position in Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company's stock worth $34,000 after acquiring an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in Pinterest in the second quarter valued at $35,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the sale, the insider now owns 246,921 shares of the company's stock, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the transaction, the chief accounting officer now directly owns 158,468 shares in the company, valued at approximately $4,893,491.84. This trade represents 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 valued at $1,547,820 over the last quarter. Company insiders own 7.11% of the company's stock.
Pinterest Stock Performance
Shares of PINS remained flat at $30.32 during mid-day trading on Friday. 3,510,815 shares of the company traded hands, compared to its average volume of 9,619,156. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The business has a fifty day moving average of $31.80 and a 200-day moving average of $35.39. The company has a market cap of $20.49 billion, a PE ratio of 101.07, a PEG ratio of 2.17 and a beta of 1.02.
Wall Street Analyst Weigh In
PINS has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $48.00 price target on shares of Pinterest in a report on Thursday, September 12th. UBS Group reduced their price target on shares of Pinterest from $52.00 to $46.00 and set a "buy" rating for the company in a research report on Friday, November 8th. KeyCorp lowered their price target on Pinterest from $45.00 to $39.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Robert W. Baird reduced their price objective on Pinterest from $41.00 to $36.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $41.00 target price on shares of Pinterest in a research report on Monday, October 7th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Pinterest currently has an average rating of "Moderate Buy" and an average target price of $41.63.
View Our Latest Stock Analysis on PINS
About Pinterest
(
Free Report)
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.
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