Blueshift Asset Management LLC Reduces Position in Pinterest, Inc. (NYSE:PINS)

Blueshift Asset Management LLC trimmed its holdings in Pinterest, Inc. (NYSE:PINS) by 34.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,852 shares of the company’s stock after selling 7,886 shares during the period. Blueshift Asset Management LLC’s holdings in Pinterest were worth $481,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Leibman Financial Services Inc. lifted its stake in Pinterest by 0.9% in the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after purchasing an additional 266 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after buying an additional 313 shares in the last quarter. Raymond James Trust N.A. grew its holdings in Pinterest by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after buying an additional 319 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Pinterest by 0.7% in the 2nd quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after acquiring an additional 372 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. raised its holdings in shares of Pinterest by 1.6% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock worth $1,022,000 after acquiring an additional 373 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This represents a 9.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the sale, the director now owns 33,686 shares in the company, valued at $1,129,154.72. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,580 shares of company stock worth $1,063,499 in the last three months. Corporate insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

PINS opened at $30.33 on Thursday. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The company has a market cap of $20.50 billion, a price-to-earnings ratio of 101.10, a PEG ratio of 2.19 and a beta of 1.02. The business’s fifty day moving average is $31.81 and its two-hundred day moving average is $35.56.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Robert W. Baird cut their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Roth Mkm cut their price target on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Wells Fargo & Company decreased their price objective on Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Susquehanna cut their target price on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research note on Wednesday, July 31st. Finally, Evercore ISI decreased their price target on Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. 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 MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.63.

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.