West Tower Group LLC Cuts Stake in Pinterest, Inc. (NYSE:PINS)

West Tower Group LLC lowered its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 28.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,000 shares of the company’s stock after selling 2,000 shares during the period. West Tower Group LLC’s holdings in Pinterest were worth $162,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd grew its holdings in Pinterest by 19.8% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 28,225 shares of the company’s stock valued at $913,000 after buying an additional 4,656 shares in the last quarter. Crewe Advisors LLC grew its holdings in Pinterest by 91.1% during the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after buying an additional 550 shares in the last quarter. Swedbank AB grew its holdings in Pinterest by 21.9% during the 3rd quarter. Swedbank AB now owns 59,539 shares of the company’s stock valued at $1,927,000 after buying an additional 10,703 shares in the last quarter. Algert Global LLC grew its holdings in Pinterest by 53.4% during the 3rd quarter. Algert Global LLC now owns 16,099 shares of the company’s stock valued at $521,000 after buying an additional 5,604 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in Pinterest by 63.4% during the 3rd quarter. Cerity Partners LLC now owns 52,357 shares of the company’s stock valued at $1,695,000 after buying an additional 20,310 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PINS. TD Cowen began coverage on Pinterest in a report on Tuesday. They set a “buy” rating and a $38.00 price target for the company. Barclays cut their price target on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price target for the company. Citigroup dropped their target price on Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, UBS Group dropped their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.86.

Pinterest Stock Up 1.6 %

Shares of NYSE PINS opened at $30.51 on Tuesday. The business has a fifty day simple moving average of $31.77 and a two-hundred day simple moving average of $35.67. The firm has a market cap of $20.62 billion, a PE ratio of 101.70, a price-to-earnings-growth ratio of 2.15 and a beta of 1.02. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,580 shares of company stock valued at $1,063,499 in the last ninety days. Corporate insiders own 7.11% of the company’s stock.

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.