Tidal Investments LLC Cuts Stock Position in Pinterest, Inc. (NYSE:PINS)

Tidal Investments LLC trimmed its holdings in Pinterest, Inc. (NYSE:PINS) by 74.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,178 shares of the company’s stock after selling 57,771 shares during the period. Tidal Investments LLC’s holdings in Pinterest were worth $653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PINS. &PARTNERS bought a new stake in Pinterest in the 2nd quarter valued at $306,000. Institute for Wealth Management LLC. purchased a new position in Pinterest during the 2nd quarter valued at approximately $200,000. Raymond James Trust N.A. increased its stake in Pinterest by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock worth $1,323,000 after acquiring an additional 319 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Pinterest by 6.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company’s stock worth $262,695,000 after acquiring an additional 380,431 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Pinterest by 664.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 16,445 shares of the company’s stock worth $725,000 after acquiring an additional 14,294 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business’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 of the company’s stock, valued at $9,729,324.72. The trade was a 9.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now directly owns 32,536 shares in the company, valued at $967,295.28. This trade represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,437 shares of company stock worth $1,583,447 over the last three months. 7.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PINS. Oppenheimer decreased their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Raymond James lowered 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. Robert W. Baird dropped their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. JPMorgan Chase & Co. decreased their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, TD Cowen assumed coverage on Pinterest in a report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and a consensus target price of $41.46.

Pinterest Trading Down 0.4 %

Shares of PINS stock opened at $29.49 on Friday. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The stock has a fifty day simple moving average of $31.31 and a two-hundred day simple moving average of $34.28. The stock has a market capitalization of $19.93 billion, a price-to-earnings ratio of 98.30, a P/E/G ratio of 2.17 and a beta of 1.02.

About Pinterest

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.