UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $117.29 Million Position in Pinterest, Inc. (NYSE:PINS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 3.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,623,294 shares of the company’s stock after selling 120,791 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Pinterest were worth $117,286,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brown Shipley& Co Ltd acquired a new position in Pinterest during the second quarter valued at approximately $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Pinterest in the 2nd quarter valued at approximately $26,000. Hexagon Capital Partners LLC grew its stake in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC increased its holdings in Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC bought a new stake in Pinterest during the second quarter worth $35,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PINS. Deutsche Bank Aktiengesellschaft began coverage on shares of Pinterest in a research report on Monday, September 23rd. They issued a “buy” rating and a $43.00 price objective for the company. Robert W. Baird lowered their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Oppenheimer dropped their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Piper Sandler reiterated an “overweight” rating and set a $41.00 target price (down from $45.00) on shares of Pinterest in a research note on Friday, November 8th. Finally, Roth Mkm dropped their price target on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $41.65.

Insiders Place Their Bets

In related news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the transaction, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at $4,893,491.84. This represents a 2.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold 48,287 shares of company stock worth $1,547,820 over the last three months. Insiders own 7.11% of the company’s stock.

Pinterest Price Performance

PINS stock opened at $30.32 on Monday. The company’s 50-day moving average price is $31.80 and its two-hundred day moving average price is $35.35. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The firm has a market cap of $20.49 billion, a P/E ratio of 101.07, a P/E/G ratio of 2.17 and a beta of 1.02.

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.