Amalgamated Bank Has $1.28 Million Stake in Pinterest, Inc. (NYSE:PINS)

Amalgamated Bank trimmed its stake in Pinterest, Inc. (NYSE:PINS) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,420 shares of the company’s stock after selling 596 shares during the period. Amalgamated Bank’s holdings in Pinterest were worth $1,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Brown Shipley& Co Ltd bought a new position in shares of Pinterest during the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new position in shares of Pinterest during the 2nd quarter worth about $26,000. Hexagon Capital Partners LLC lifted its holdings in shares of Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after acquiring an additional 459 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after acquiring an additional 405 shares during the period. Finally, Rothschild Investment LLC bought a new position in shares of Pinterest during the 2nd quarter worth about $35,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Stock Performance

Shares of NYSE PINS opened at $29.98 on Thursday. The stock has a market cap of $20.57 billion, a P/E ratio of 99.93, a P/E/G ratio of 2.34 and a beta of 1.02. The firm has a 50 day moving average price of $31.76 and a 200 day moving average price of $36.27. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $41.00 price objective on shares of Pinterest in a report on Monday, October 7th. Citigroup cut their price target on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Raymond James cut their price target on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Oppenheimer cut their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Morgan Stanley lifted their price target on shares of Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were 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 owns 297,351 shares in the company, valued at $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now owns 33,686 shares in the company, valued at $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

Pinterest 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.