Pinterest, Inc. (NYSE:PINS) Position Trimmed by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lowered its stake in Pinterest, Inc. (NYSE:PINS – Get Rating) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,898 shares of the company’s stock after selling 14,250 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Pinterest were worth $2,304,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PINS. Hemenway Trust Co LLC increased its holdings in shares of Pinterest by 16.1% in the 4th quarter. Hemenway Trust Co LLC now owns 10,309 shares of the company’s stock valued at $250,000 after purchasing an additional 1,429 shares during the period. Belpointe Asset Management LLC acquired a new stake in Pinterest in the fourth quarter worth about $69,000. SPX Gestao de Recursos Ltda acquired a new stake in Pinterest in the fourth quarter worth about $1,967,000. Prospera Financial Services Inc grew its position in shares of Pinterest by 1.7% during the 4th quarter. Prospera Financial Services Inc now owns 27,873 shares of the company’s stock worth $677,000 after buying an additional 474 shares during the period. Finally, Thrivent Financial for Lutherans bought a new position in shares of Pinterest during the 4th quarter valued at about $757,000. Institutional investors and hedge funds own 71.95% of the company’s stock.

Pinterest Price Performance

PINS opened at $23.76 on Wednesday. The company’s 50 day simple moving average is $25.48 and its two-hundred day simple moving average is $25.18. Pinterest, Inc. has a 1-year low of $16.14 and a 1-year high of $29.27. The firm has a market capitalization of $16.25 billion, a price-to-earnings ratio of -52.80 and a beta of 0.99.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PINS shares. Raymond James assumed coverage on Pinterest in a research note on Wednesday, April 5th. They issued an “outperform” rating and a $33.00 target price on the stock. UBS Group decreased their target price on Pinterest from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, April 28th. Morgan Stanley decreased their price objective on Pinterest from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Friday, April 28th. Sanford C. Bernstein decreased their price objective on Pinterest from $28.00 to $23.00 and set a “market perform” rating on the stock in a report on Friday, April 28th. Finally, Roth Capital reaffirmed a “neutral” rating on shares of Pinterest in a report on Tuesday, February 7th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.40.

Insider Transactions at Pinterest

In related news, Director Evan Sharp sold 55,241 shares of Pinterest stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $27.04, for a total value of $1,493,716.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Evan Sharp sold 55,241 shares of the business’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $27.04, for a total value of $1,493,716.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd R. Morgenfeld sold 60,537 shares of the business’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $28.32, for a total transaction of $1,714,407.84. Following the completion of the sale, the chief financial officer now directly owns 512,820 shares of the company’s stock, valued at $14,523,062.40. The disclosure for this sale can be found here. Insiders sold 150,648 shares of company stock worth $4,083,099 in the last 90 days. Insiders own 6.85% of the company’s stock.

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.