Rockefeller Capital Management L.P. Lowers Stock Position in Pinterest, Inc. (NYSE:PINS)

Rockefeller Capital Management L.P. lowered its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 31.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,078 shares of the company's stock after selling 24,862 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Pinterest were worth $1,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Brown Shipley& Co Ltd acquired a new stake in Pinterest in the second quarter valued at approximately $25,000. Wellington Shields Capital Management LLC purchased a new stake in shares of Pinterest during the 2nd quarter worth $26,000. Hexagon Capital Partners LLC grew its stake in shares of 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 purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company's stock worth $34,000 after purchasing an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in Pinterest in the second quarter valued at $35,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the firm's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the sale, the chief accounting officer now directly owns 158,468 shares of the company's stock, valued at $4,893,491.84. This trade represents a 2.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the sale, the director now owns 32,536 shares of the company's stock, valued at approximately $967,295.28. This trade represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,287 shares of company stock worth $1,547,820. Insiders own 7.11% of the company's stock.

Analysts Set New Price Targets

PINS has been the subject of a number of research analyst reports. TD Cowen assumed coverage on Pinterest in a report on Tuesday, November 26th. They issued a "buy" rating and a $38.00 price target for the company. Royal Bank of Canada restated an "outperform" rating and issued a $48.00 target price on shares of Pinterest in a report on Thursday, September 12th. Robert W. Baird cut their price target on shares of Pinterest from $41.00 to $36.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Benchmark restated a "hold" rating on shares of Pinterest in a research note on Friday, November 8th. Finally, Roth Mkm cut their target price on Pinterest from $39.00 to $33.00 and set a "neutral" rating on the stock in a research report on Friday, November 8th. Seven 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $41.65.

Pinterest Stock Performance

PINS stock traded up $0.70 during midday trading on Friday, hitting $32.28. 9,242,646 shares of the stock were exchanged, compared to its average volume of 13,634,317. The stock's 50-day moving average price is $31.77 and its 200-day moving average price is $35.02. The stock has a market cap of $21.82 billion, a price-to-earnings ratio of 107.60, a PEG ratio of 2.28 and a beta of 1.02. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

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.