Cambridge Investment Research Advisors Inc. Sells 6,495 Shares of Pinterest, Inc. (NYSE:PINS)

Cambridge Investment Research Advisors Inc. lowered its stake in shares of Pinterest, Inc. (NYSE:PINS – Get Rating) by 18.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 28,823 shares of the company’s stock after selling 6,495 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Pinterest were worth $700,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Simon Quick Advisors LLC increased its position in shares of Pinterest by 4.3% during the 4th quarter. Simon Quick Advisors LLC now owns 9,934 shares of the company’s stock valued at $241,000 after purchasing an additional 408 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Pinterest by 0.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,968 shares of the company’s stock valued at $1,917,000 after acquiring an additional 430 shares during the last quarter. Financial Advocates Investment Management grew its position in Pinterest by 2.0% in the 3rd quarter. Financial Advocates Investment Management now owns 21,538 shares of the company’s stock valued at $502,000 after acquiring an additional 432 shares during the last quarter. Capital International Sarl grew its position in Pinterest by 4.8% in the 1st quarter. Capital International Sarl now owns 11,867 shares of the company’s stock valued at $292,000 after acquiring an additional 539 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in Pinterest by 17.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,628 shares of the company’s stock valued at $85,000 after acquiring an additional 543 shares during the last quarter. Institutional investors own 71.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Sanford C. Bernstein cut their price objective on Pinterest from $28.00 to $23.00 and set a “market perform” rating on the stock in a research report on Friday, April 28th. Morgan Stanley cut their price objective on Pinterest from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, April 28th. Piper Sandler cut their price objective on Pinterest from $32.00 to $31.00 in a research report on Friday, April 28th. Bank of America cut their price objective on Pinterest from $30.00 to $29.00 in a research report on Friday, April 28th. Finally, Rosenblatt Securities upped their target price on Pinterest from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, April 28th. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $28.40.

Insider Buying and Selling

In related news, SVP Naveen Gavini sold 11,185 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $21.29, for a total transaction of $238,128.65. Following the sale, the senior vice president now directly owns 339,322 shares of the company’s stock, valued at $7,224,165.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Naveen Gavini sold 11,185 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $21.29, for a total transaction of $238,128.65. Following the sale, the senior vice president now directly owns 339,322 shares of the company’s stock, valued at $7,224,165.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey D. Jordan sold 5,000 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $23.04, for a total value of $115,200.00. Following the transaction, the director now owns 186,715 shares in the company, valued at approximately $4,301,913.60. The disclosure for this sale can be found here. Insiders have sold a total of 150,648 shares of company stock valued at $4,083,099 over the last ninety days. Company insiders own 6.85% of the company’s stock.

Pinterest Price Performance

Shares of NYSE:PINS opened at $23.26 on Tuesday. The firm has a market capitalization of $15.90 billion, a P/E ratio of -51.69 and a beta of 0.99. Pinterest, Inc. has a 1 year low of $16.14 and a 1 year high of $29.27. The business’s 50-day moving average is $25.51 and its 200 day moving average is $25.17.

Pinterest Profile

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Pinterest, Inc engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. The company was founded by Benjamin Silbermann, Paul C. Sciarra, and Evan Sharp in October 2008 and is headquartered in San Francisco, CA.