Los Angeles Capital Management LLC Sells 320,510 Shares of Pinterest, Inc. (NYSE:PINS)

Los Angeles Capital Management LLC lowered its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 83.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,472 shares of the company's stock after selling 320,510 shares during the period. Los Angeles Capital Management LLC's holdings in Pinterest were worth $2,087,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. 1832 Asset Management L.P. bought a new stake in Pinterest during the second quarter worth approximately $98,655,000. Ninety One UK Ltd boosted its position in shares of Pinterest by 44.6% during the 2nd quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company's stock valued at $239,991,000 after purchasing an additional 1,679,348 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Pinterest by 31.6% in the 2nd quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company's stock worth $248,793,000 after purchasing an additional 1,356,459 shares in the last quarter. AMI Asset Management Corp acquired a new stake in Pinterest during the second quarter valued at approximately $57,569,000. Finally, American Century Companies Inc. boosted its holdings in Pinterest by 57.6% during the second quarter. American Century Companies Inc. now owns 3,042,065 shares of the company's stock worth $134,064,000 after buying an additional 1,112,163 shares in the last quarter. Institutional investors own 88.81% of the company's stock.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now directly owns 33,686 shares of the company's stock, valued at $1,129,154.72. The trade was a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company's stock in a transaction 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 transaction, the chief financial officer now owns 297,351 shares of the company's stock, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company's stock.

Pinterest Stock Performance

Shares of NYSE PINS traded down $0.62 during mid-day trading on Thursday, reaching $29.36. 12,726,654 shares of the company traded hands, compared to its average volume of 9,603,151. The company's fifty day moving average is $31.76 and its two-hundred day moving average is $36.27. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The stock has a market cap of $20.15 billion, a PE ratio of 98.77, a price-to-earnings-growth ratio of 2.34 and a beta of 1.02.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Susquehanna reduced their price objective on Pinterest from $50.00 to $45.00 and set a "positive" rating for the company in a research note on Wednesday, July 31st. Barclays cut their price objective on Pinterest from $38.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 31st. Evercore ISI dropped their target price on shares of Pinterest from $50.00 to $48.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 31st. Oppenheimer reduced their price target on shares of Pinterest from $45.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Finally, Wedbush upgraded shares of Pinterest from a "hold" rating to a "strong-buy" rating in a research report on Monday. Seven investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.00.

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.