Baird Financial Group Inc. Lowers Position in Pinterest, Inc. (NYSE:PINS)

Baird Financial Group Inc. trimmed its holdings in shares of Pinterest, Inc. (NYSE:PINSGet Rating) by 9.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 12,728 shares of the company’s stock after selling 1,293 shares during the period. Baird Financial Group Inc.’s holdings in Pinterest were worth $231,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Commerce Bank bought a new stake in shares of Pinterest during the first quarter valued at approximately $389,000. Rosenberg Matthew Hamilton increased its position in shares of Pinterest by 65.2% during the second quarter. Rosenberg Matthew Hamilton now owns 2,478 shares of the company’s stock valued at $46,000 after acquiring an additional 978 shares in the last quarter. Pier Capital LLC increased its position in shares of Pinterest by 52.3% during the first quarter. Pier Capital LLC now owns 32,972 shares of the company’s stock valued at $811,000 after acquiring an additional 11,320 shares in the last quarter. Elo Mutual Pension Insurance Co increased its position in shares of Pinterest by 6.5% during the first quarter. Elo Mutual Pension Insurance Co now owns 44,256 shares of the company’s stock valued at $1,089,000 after acquiring an additional 2,695 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Pinterest by 88.1% during the second quarter. Empowered Funds LLC now owns 25,050 shares of the company’s stock valued at $455,000 after acquiring an additional 11,736 shares in the last quarter. 70.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PINS has been the subject of several analyst reports. Wolfe Research raised shares of Pinterest from a “peer perform” rating to an “outperform” rating and set a $28.00 price target for the company in a research report on Wednesday, September 7th. Citigroup lifted their target price on shares of Pinterest from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, October 31st. Susquehanna Bancshares raised shares of Pinterest to a “positive” rating and lifted their target price for the stock from $22.00 to $35.00 in a research report on Tuesday, August 2nd. Piper Sandler lifted their target price on shares of Pinterest from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, October 28th. Finally, Evercore ISI lifted their target price on shares of Pinterest from $24.00 to $28.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 2nd. Sixteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $28.68.

Insider Activity at Pinterest

In related news, SVP Naveen Gavini sold 4,756 shares of Pinterest stock in a transaction on Monday, September 12th. The shares were sold at an average price of $25.47, for a total transaction of $121,135.32. Following the transaction, the senior vice president now owns 492,141 shares in the company, valued at approximately $12,534,831.27. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Pinterest news, SVP Naveen Gavini sold 4,756 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $25.47, for a total value of $121,135.32. Following the sale, the senior vice president now owns 492,141 shares in the company, valued at approximately $12,534,831.27. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Benjamin Silbermann sold 150,000 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 860,828 shares of company stock worth $20,868,616. 7.58% of the stock is owned by corporate insiders.

Pinterest Stock Performance

PINS opened at $25.03 on Thursday. Pinterest, Inc. has a fifty-two week low of $16.14 and a fifty-two week high of $43.24. The firm’s fifty day moving average is $23.62 and its 200 day moving average is $21.78. The stock has a market cap of $16.98 billion, a price-to-earnings ratio of 357.62 and a beta of 0.99.

Pinterest Profile

(Get Rating)

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

Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINSGet Rating).

Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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