1834 Investment Advisors Co. Lowers Holdings in Pinterest, Inc. (NYSE:PINS)

1834 Investment Advisors Co. reduced its stake in Pinterest, Inc. (NYSE:PINS) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,517 shares of the company’s stock after selling 637 shares during the period. 1834 Investment Advisors Co.’s holdings in Pinterest were worth $682,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Pinterest by 14.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,489,313 shares of the company’s stock valued at $65,635,000 after acquiring an additional 184,639 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in shares of Pinterest in the second quarter worth $233,000. Bank of Montreal Can lifted its holdings in shares of Pinterest by 17.0% during the second quarter. Bank of Montreal Can now owns 540,308 shares of the company’s stock valued at $24,314,000 after purchasing an additional 78,386 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Pinterest by 0.7% during the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock valued at $2,510,000 after buying an additional 372 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Pinterest by 86.4% in the 2nd quarter. AQR Capital Management LLC now owns 320,502 shares of the company’s stock worth $14,125,000 after buying an additional 148,578 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Pinterest Stock Performance

NYSE PINS opened at $32.92 on Friday. The company has a market cap of $22.25 billion, a PE ratio of 109.72, a P/E/G ratio of 1.61 and a beta of 1.04. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The firm’s 50 day moving average price is $30.64 and its 200-day moving average price is $32.01.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now directly owns 32,536 shares in the company, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the sale, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at $4,893,491.84. This trade represents a 2.37 % 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 worth $589,131. 7.11% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on PINS. Wells Fargo & Company dropped their price target on Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Rosenblatt Securities dropped their target price on Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. UBS Group cut their price target on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Oppenheimer lowered their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, Piper Sandler cut shares of Pinterest from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $41.00 to $36.00 in a report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.70.

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.