Baltimore Washington Financial Advisors Inc. Decreases Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Baltimore Washington Financial Advisors Inc. trimmed its position in shares of Pinterest, Inc. (NYSE:PINS) by 7.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 93,014 shares of the company’s stock after selling 7,284 shares during the period. Baltimore Washington Financial Advisors Inc.’s holdings in Pinterest were worth $2,697,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. State Street Corp raised its position in shares of Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after purchasing an additional 156,748 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Pinterest by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after purchasing an additional 76,920 shares during the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after purchasing an additional 2,996,750 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Pinterest by 8.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock valued at $192,423,000 after purchasing an additional 460,708 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Pinterest in the 3rd quarter valued at approximately $153,829,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, November 20th. The stock was 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 of the company’s stock, valued at $967,295.28. The trade was a 3.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest 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 transaction, the insider now directly owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,157 shares of company stock worth $589,131. Company insiders own 7.11% of the company’s stock.

Analyst Upgrades and Downgrades

PINS has been the subject of several research analyst reports. Oppenheimer decreased their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Raymond James reduced their price target on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Pinterest in a research report on Monday, January 13th. UBS Group reduced 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, Benchmark reissued a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.70.

Pinterest Stock Up 0.4 %

NYSE PINS opened at $33.09 on Tuesday. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The business’s fifty day simple moving average is $31.01 and its 200-day simple moving average is $31.65. The firm has a market cap of $22.36 billion, a PE ratio of 110.31, a P/E/G ratio of 1.68 and a beta of 1.06.

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.