Bleakley Financial Group LLC Has $245,000 Position in Pinterest, Inc. (NYSE:PINS)

Bleakley Financial Group LLC cut its position in Pinterest, Inc. (NYSE:PINS) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,434 shares of the company’s stock after selling 2,470 shares during the quarter. Bleakley Financial Group LLC’s holdings in Pinterest were worth $245,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. CWM LLC grew its holdings in Pinterest by 91.5% during the 3rd quarter. CWM LLC now owns 66,685 shares of the company’s stock worth $2,159,000 after acquiring an additional 31,863 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Pinterest by 500.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,200 shares of the company’s stock worth $136,000 after acquiring an additional 3,500 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Pinterest by 52.3% in the third quarter. Exchange Traded Concepts LLC now owns 12,295 shares of the company’s stock valued at $398,000 after purchasing an additional 4,223 shares in the last quarter. NBC Securities Inc. purchased a new position in Pinterest during the 3rd quarter worth $173,000. Finally, Swedbank AB grew its position in Pinterest by 21.9% in the 3rd quarter. Swedbank AB now owns 59,539 shares of the company’s stock worth $1,927,000 after purchasing an additional 10,703 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insiders Place Their Bets

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the 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 completion of the transaction, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This represents a 4.58 % 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 this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the transaction, the director now owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on PINS. Guggenheim raised their price objective on shares of Pinterest from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Piper Sandler restated a “neutral” rating and issued a $41.00 target price (up previously from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Barclays upped their price target on shares of Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. JPMorgan Chase & Co. cut their price target on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Finally, Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday, January 10th. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and an average target price of $43.86.

Pinterest Stock Up 0.0 %

Shares of Pinterest stock opened at $39.64 on Wednesday. The company has a market cap of $26.79 billion, a PE ratio of 14.74, a P/E/G ratio of 1.72 and a beta of 1.06. The business has a 50 day moving average of $31.61 and a 200 day moving average of $31.46. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 9.20%. On average, research analysts anticipate that Pinterest, Inc. will post 0.59 earnings per share for the current year.

About Pinterest

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.