Janney Montgomery Scott LLC Has $1.78 Million Position in Pinterest, Inc. (NYSE:PINS)

Janney Montgomery Scott LLC lowered its stake in shares of Pinterest, Inc. (NYSE:PINS) by 5.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,914 shares of the company’s stock after selling 2,928 shares during the period. Janney Montgomery Scott LLC’s holdings in Pinterest were worth $1,778,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Optas LLC lifted its stake in shares of Pinterest by 2.3% in the 3rd quarter. Optas LLC now owns 20,017 shares of the company’s stock valued at $648,000 after purchasing an additional 458 shares during the last quarter. CacheTech Inc. boosted its holdings in Pinterest by 21.7% in the third quarter. CacheTech Inc. now owns 9,428 shares of the company’s stock worth $305,000 after purchasing an additional 1,682 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in Pinterest by 21.1% in the third quarter. Creative Financial Designs Inc. ADV now owns 49,574 shares of the company’s stock worth $1,605,000 after purchasing an additional 8,635 shares in the last quarter. Stephens Inc. AR boosted its holdings in Pinterest by 10.6% in the third quarter. Stephens Inc. AR now owns 28,200 shares of the company’s stock worth $913,000 after purchasing an additional 2,695 shares in the last quarter. Finally, SteelPeak Wealth LLC boosted its holdings in Pinterest by 58.7% in the third quarter. SteelPeak Wealth LLC now owns 16,124 shares of the company’s stock worth $522,000 after purchasing an additional 5,965 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the sale, the director now directly owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were 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 in the company, valued at $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. 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 stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Morgan Stanley boosted their target price on shares of Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. cut their target price 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. Oppenheimer cut their target price 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, Evercore ISI cut their target price on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Pinterest Trading Down 2.2 %

Shares of Pinterest stock opened at $29.98 on Thursday. The stock has a market capitalization of $20.57 billion, a price-to-earnings ratio of 99.93, a P/E/G ratio of 2.34 and a beta of 1.02. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The firm’s 50-day moving average price is $31.76 and its two-hundred day moving average price is $36.27.

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.