Pinterest, Inc. (NYSE:PINS) Stock Holdings Lessened by Stonegate Investment Group LLC

Stonegate Investment Group LLC cut its holdings in Pinterest, Inc. (NYSE:PINS) by 78.7% in the 4th quarter, HoldingsChannel reports. The institutional investor 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 filing with the SEC.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its holdings in shares of Pinterest by 1.2% during the third 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 boosted its position in Pinterest by 0.8% during 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 period. Ontario Teachers Pension Plan Board grew its stake in Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after buying an additional 2,996,750 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Pinterest by 8.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after buying an additional 460,708 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Pinterest in the third quarter valued at $153,829,000. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Down 1.5 %

NYSE:PINS opened at $32.97 on Wednesday. The stock has a fifty day simple moving average of $30.80 and a 200 day simple moving average of $31.82. The firm has a market capitalization 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.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PINS shares. Rosenblatt Securities dropped their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. cut their price target on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. KeyCorp decreased their price objective on Pinterest from $39.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $41.00 target price on shares of Pinterest in a research note on Monday, October 7th. Finally, Raymond James decreased their price target on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research note 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. Based on data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $40.70.

Insider Buying and Selling at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction on Wednesday, November 27th. The stock was 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 in the company, valued at $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total value of $35,627.00. Following the transaction, the director now owns 31,386 shares in the company, valued at $972,338.28. This represents a 3.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,157 shares of company stock valued at $589,131. 7.11% of the stock is currently owned by corporate insiders.

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.