Pinterest, Inc. (NYSE:PINS) Shares Sold by Fmr LLC

Fmr LLC trimmed its stake in shares of Pinterest, Inc. (NYSE:PINS) by 41.3% during the 3rd quarter, Holdings Channel reports. The fund owned 12,282,723 shares of the company’s stock after selling 8,630,521 shares during the quarter. Fmr LLC’s holdings in Pinterest were worth $397,592,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PINS. Tidal Investments LLC increased its position in shares of Pinterest by 38.2% in the first quarter. Tidal Investments LLC now owns 62,374 shares of the company’s stock valued at $2,163,000 after buying an additional 17,241 shares in the last quarter. Comerica Bank boosted its position in shares of Pinterest by 5.4% during the 1st quarter. Comerica Bank now owns 49,865 shares of the company’s stock valued at $1,729,000 after acquiring an additional 2,561 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of Pinterest by 93.7% in the first quarter. Virtu Financial LLC now owns 11,099 shares of the company’s stock valued at $385,000 after purchasing an additional 5,368 shares during the period. Swedbank AB purchased a new position in Pinterest during the first quarter worth about $1,714,000. Finally, Cetera Investment Advisers boosted its holdings in Pinterest by 103.4% in the 1st quarter. Cetera Investment Advisers now owns 63,535 shares of the company’s stock valued at $2,203,000 after purchasing an additional 32,305 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Stock Performance

PINS stock opened at $30.30 on Friday. The company’s 50 day moving average price is $31.80 and its 200 day moving average price is $35.44. The firm has a market capitalization of $20.47 billion, a price-to-earnings ratio of 100.99, a PEG ratio of 2.17 and a beta of 1.02. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $48.00 price target on shares of Pinterest in a report on Thursday, September 12th. Wedbush upgraded Pinterest from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. UBS Group lowered their price target on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. Benchmark reissued a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $41.00 target price (down previously from $45.00) on shares of Pinterest in a research report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.63.

Insiders Place Their Bets

In related news, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the transaction, the chief accounting officer now owns 158,468 shares in the company, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the transaction, the director now directly owns 32,536 shares in the company, valued at $967,295.28. This trade represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,287 shares of company stock worth $1,547,820 in the last 90 days. Corporate insiders own 7.11% of the company’s stock.

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.