Steward Partners Investment Advisory LLC trimmed its holdings in Pinterest, Inc. (NYSE:PINS – Free Report) by 38.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,717 shares of the company’s stock after selling 5,539 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Pinterest were worth $253,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PINS. Atria Investments Inc boosted its holdings in Pinterest by 4.0% in the third quarter. Atria Investments Inc now owns 26,686 shares of the company’s stock valued at $864,000 after purchasing an additional 1,034 shares in the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of Pinterest by 9.5% in the third quarter. Axxcess Wealth Management LLC now owns 6,965 shares of the company’s stock valued at $225,000 after acquiring an additional 605 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Pinterest by 45.6% in the third quarter. Victory Capital Management Inc. now owns 414,285 shares of the company’s stock valued at $13,410,000 after acquiring an additional 129,676 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Pinterest by 6.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 46,783 shares of the company’s stock valued at $1,514,000 after acquiring an additional 2,997 shares during the period. Finally, Plato Investment Management Ltd boosted its holdings in shares of Pinterest by 79.8% in the third quarter. Plato Investment Management Ltd now owns 26,833 shares of the company’s stock valued at $868,000 after acquiring an additional 11,912 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.
Pinterest Stock Performance
NYSE:PINS opened at $31.92 on Friday. The stock has a fifty day moving average price of $34.34 and a two-hundred day moving average price of $32.27. The stock has a market capitalization of $21.65 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on PINS shares. Royal Bank of Canada increased their price objective on Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $34.00 to $47.00 in a report on Friday, February 7th. Piper Sandler reissued a “neutral” rating and issued a $41.00 price objective (up from $36.00) on shares of Pinterest in a report on Friday, February 7th. Monness Crespi & Hardt raised 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. Finally, Barclays upped their price target on Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and an average target price of $43.47.
Get Our Latest Analysis on Pinterest
Insider Activity
In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total value of $35,627.00. Following the completion of the transaction, the director now owns 31,386 shares in the company, valued at $972,338.28. This trade represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeremy S. Levine sold 50,535 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $33.98, for a total value of $1,717,179.30. Following the completion of the transaction, the director now owns 1,156,693 shares of the company’s stock, valued at approximately $39,304,428.14. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,879 shares of company stock worth $3,653,577 over the last 90 days. 7.11% of the stock is currently owned by corporate 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.
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