Polymer Capital Management HK LTD Trims Stock Position in Pinterest, Inc. (NYSE:PINS)

Polymer Capital Management HK LTD lowered its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 88.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,400 shares of the company's stock after selling 71,238 shares during the period. Polymer Capital Management HK LTD's holdings in Pinterest were worth $304,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Incline Global Management LLC bought a new stake in Pinterest during the third quarter valued at approximately $10,733,000. Integrated Wealth Concepts LLC boosted its stake in shares of Pinterest by 18.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 11,316 shares of the company's stock worth $366,000 after acquiring an additional 1,796 shares during the last quarter. Investment Management Corp of Ontario grew its position in shares of Pinterest by 23.7% during the 3rd quarter. Investment Management Corp of Ontario now owns 63,579 shares of the company's stock valued at $2,058,000 after acquiring an additional 12,180 shares during the period. Cinctive Capital Management LP purchased a new stake in shares of Pinterest in the 3rd quarter worth $6,343,000. Finally, Benjamin Edwards Inc. increased its stake in shares of Pinterest by 17,213.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 31,338 shares of the company's stock worth $1,014,000 after purchasing an additional 31,157 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. TD Cowen began coverage on Pinterest in a report on Tuesday, November 26th. They set a "buy" rating and a $38.00 price target for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a research note on Monday, September 23rd. They set a "buy" rating and a $43.00 price objective for the company. Benchmark restated a "hold" rating on shares of Pinterest in a research note on Friday, November 8th. Oppenheimer dropped 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, KeyCorp reduced their price objective on shares of Pinterest from $45.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.65.

Pinterest Price Performance

Shares of NYSE:PINS traded down $0.72 during trading hours on Thursday, hitting $31.58. The company's stock had a trading volume of 7,484,764 shares, compared to its average volume of 9,631,047. The firm's fifty day moving average price is $31.78 and its 200 day moving average price is $35.13. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The company has a market capitalization of $21.34 billion, a price-to-earnings ratio of 105.27, a P/E/G ratio of 2.21 and a beta of 1.02.

Insider Activity

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the company's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,287 shares of company stock worth $1,547,820. 7.11% of the stock is currently owned by company insiders.

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.