Pinterest, Inc. (NYSE:PINS) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in Pinterest, Inc. (NYSE:PINSGet Rating) by 74.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,204 shares of the company’s stock after selling 210,528 shares during the period. Envestnet Asset Management Inc.’s holdings in Pinterest were worth $1,311,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Cohanzick Management LLC acquired a new position in shares of Pinterest in the 1st quarter valued at $25,000. Allworth Financial LP lifted its stake in Pinterest by 134.4% during the 2nd quarter. Allworth Financial LP now owns 1,390 shares of the company’s stock worth $25,000 after acquiring an additional 797 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Pinterest by 212.0% during the 1st quarter. First Horizon Advisors Inc. now owns 1,404 shares of the company’s stock worth $35,000 after acquiring an additional 954 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new position in Pinterest during the 1st quarter worth about $39,000. Finally, Stonebridge Capital Advisors LLC lifted its stake in Pinterest by 5,138.9% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,886 shares of the company’s stock worth $46,000 after acquiring an additional 1,850 shares in the last quarter. Institutional investors and hedge funds own 70.78% of the company’s stock.

Pinterest Trading Down 2.4 %

Pinterest stock opened at $23.80 on Tuesday. Pinterest, Inc. has a twelve month low of $16.14 and a twelve month high of $44.66. The stock has a 50 day moving average of $23.62 and a two-hundred day moving average of $21.75. The stock has a market capitalization of $16.14 billion, a price-to-earnings ratio of 340.05 and a beta of 0.99.

Analysts Set New Price Targets

PINS has been the topic of several research reports. Evercore ISI increased their target price on Pinterest from $24.00 to $28.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 2nd. KeyCorp upped their price target on Pinterest from $24.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, August 2nd. Citigroup upped their price target on Pinterest from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, October 31st. The Goldman Sachs Group upgraded Pinterest from a “neutral” rating to a “buy” rating and upped their price target for the stock from $24.00 to $31.00 in a report on Wednesday, October 5th. Finally, Susquehanna Bancshares upgraded Pinterest to a “positive” rating and upped their price target for the stock from $22.00 to $35.00 in a report on Tuesday, August 2nd. Sixteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest has a consensus rating of “Hold” and a consensus price target of $28.68.

Insiders Place Their Bets

In other Pinterest news, Chairman Benjamin Silbermann sold 150,000 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $24.50, for a total transaction of $3,675,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Naveen Gavini sold 4,756 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $25.47, for a total value of $121,135.32. Following the completion of the sale, the senior vice president now directly owns 492,141 shares of the company’s stock, valued at approximately $12,534,831.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Benjamin Silbermann sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $24.50, for a total value of $3,675,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 560,828 shares of company stock valued at $13,554,616. 7.58% of the stock is owned by company insiders.

About Pinterest

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.

See Also

Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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