Pinterest, Inc. (NYSE:PINS) Shares Sold by Smith Group Asset Management LLC

Smith Group Asset Management LLC decreased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 589,714 shares of the company’s stock after selling 14,449 shares during the period. Smith Group Asset Management LLC’s holdings in Pinterest were worth $17,102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC grew its stake in Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after acquiring an additional 415 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Pinterest in the 3rd quarter worth $37,000. Crewe Advisors LLC grew its position in Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after acquiring an additional 550 shares during the period. True Wealth Design LLC raised its holdings in shares of Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after purchasing an additional 1,487 shares during the period. Finally, Quarry LP lifted its stake in shares of Pinterest by 266.1% in the 2nd quarter. Quarry LP now owns 2,105 shares of the company’s stock valued at $93,000 after purchasing an additional 1,530 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Pinterest

In related news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. This trade represents a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 32,536 shares of the company’s stock, valued at $967,295.28. This trade represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock worth $589,131 in the last ninety days. 7.11% of the stock is owned by insiders.

Pinterest Stock Performance

Shares of PINS opened at $32.97 on Wednesday. The firm has a fifty day moving average of $30.80 and a 200-day moving average of $31.82. The company has a market cap of $22.28 billion, a price-to-earnings ratio of 109.89, a price-to-earnings-growth 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.

Analyst Upgrades and Downgrades

PINS has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price target on shares of Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. reduced their target price on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Oppenheimer cut their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. KeyCorp reduced their target price on shares of Pinterest from $39.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, Benchmark restated a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $40.70.

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.