Pinterest, Inc. (NYSE:PINS) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC cut its holdings in Pinterest, Inc. (NYSE:PINS) by 43.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,664 shares of the company’s stock after selling 5,040 shares during the period. Apollon Wealth Management LLC’s holdings in Pinterest were worth $216,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PINS. Kornitzer Capital Management Inc. KS grew its position in shares of Pinterest by 20.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock valued at $13,087,000 after purchasing an additional 68,096 shares during the last quarter. GDS Wealth Management purchased a new position in Pinterest during the third quarter worth $2,517,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Pinterest by 13.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock worth $15,598,000 after acquiring an additional 51,455 shares during the last quarter. TimesSquare Capital Management LLC lifted its position in shares of Pinterest by 16.2% in the third quarter. TimesSquare Capital Management LLC now owns 1,963,645 shares of the company’s stock valued at $63,563,000 after acquiring an additional 273,855 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in shares of Pinterest during the second quarter valued at $5,045,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 9.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PINS shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pinterest in a report on Monday, September 23rd. They issued a “buy” rating and a $43.00 target price on the stock. Morgan Stanley lifted their target price on shares of Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Stifel Nicolaus reduced their price target on Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Finally, UBS Group reduced their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Pinterest Price Performance

Shares of PINS stock opened at $28.99 on Tuesday. The company’s fifty day moving average price is $31.71 and its two-hundred day moving average price is $36.18. The firm has a market capitalization of $19.89 billion, a P/E ratio of 96.63, a P/E/G ratio of 2.02 and a beta of 1.02. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19.

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.