Pinterest, Inc. (NYSE:PINS) Shares Sold by Focused Wealth Management Inc

Focused Wealth Management Inc lowered its holdings in Pinterest, Inc. (NYSE:PINS) by 4.3% in the third quarter, Holdings Channel.com reports. The fund owned 19,940 shares of the company’s stock after selling 900 shares during the quarter. Focused Wealth Management Inc’s holdings in Pinterest were worth $645,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Pinterest by 12.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,636 shares of the company’s stock valued at $958,000 after purchasing an additional 3,101 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Pinterest by 195.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company’s stock valued at $75,000 after buying an additional 1,422 shares in the last quarter. Norden Group LLC acquired a new position in Pinterest during the first quarter worth $214,000. Janney Montgomery Scott LLC raised its stake in shares of Pinterest by 7.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 59,678 shares of the company’s stock worth $2,069,000 after buying an additional 4,237 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Pinterest by 26.1% during the first quarter. Geneos Wealth Management Inc. now owns 3,566 shares of the company’s stock worth $124,000 after acquiring an additional 737 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on PINS. Wells Fargo & Company decreased their price target on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Wolfe Research began coverage on Pinterest in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Benchmark reissued a “hold” rating on shares of Pinterest in a research report on Wednesday, July 31st. Piper Sandler reiterated an “overweight” rating and set a $45.00 target price on shares of Pinterest in a report on Friday, September 13th. Finally, Oppenheimer started coverage on shares of Pinterest in a report on Tuesday, September 24th. They issued an “outperform” rating and a $45.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.56.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Friday, September 27th. The stock was 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 directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s 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 completion of the sale, the director now owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

Pinterest Price Performance

NYSE PINS opened at $32.73 on Wednesday. The stock’s 50-day moving average is $31.77 and its 200-day moving average is $36.37. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The firm has a market cap of $22.46 billion, a P/E ratio of 121.22, a P/E/G ratio of 2.47 and a beta of 1.02.

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.