Pinterest, Inc. (NYSE:PINS) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC lowered its stake in shares of Pinterest, Inc. (NYSE:PINS) by 78.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,740 shares of the company’s stock after selling 50,897 shares during the period. Stonegate Investment Group LLC’s holdings in Pinterest were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PINS. AQR Capital Management LLC grew its holdings in shares of Pinterest by 86.4% during the second quarter. AQR Capital Management LLC now owns 320,502 shares of the company’s stock worth $14,125,000 after buying an additional 148,578 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Pinterest by 12.3% during the second quarter. The Manufacturers Life Insurance Company now owns 43,153 shares of the company’s stock worth $1,902,000 after acquiring an additional 4,712 shares during the last quarter. Algert Global LLC purchased a new stake in Pinterest in the 2nd quarter worth approximately $463,000. Creative Planning raised its holdings in Pinterest by 27.0% in the 2nd quarter. Creative Planning now owns 48,954 shares of the company’s stock valued at $2,157,000 after acquiring an additional 10,405 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Pinterest by 300.8% during the 2nd quarter. NewEdge Advisors LLC now owns 22,811 shares of the company’s stock worth $1,005,000 after purchasing an additional 17,120 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares in the company, valued at approximately $967,295.28. This trade represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock worth $589,131 in the last three months. 7.11% of the stock is owned by insiders.

Pinterest Stock Performance

Shares of NYSE PINS opened at $32.97 on Wednesday. The firm has a market cap of $22.28 billion, a price-to-earnings ratio of 109.89, a PEG ratio of 1.61 and a beta of 1.04. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The stock’s 50-day simple moving average is $30.80 and its 200-day simple moving average is $31.82.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a research report on Tuesday, December 10th. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price objective (down previously from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $41.00 target price on shares of Pinterest in a research report on Monday, October 7th. UBS Group dropped their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $38.00 price target on shares of Pinterest in a report on Tuesday. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.70.

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.