Ballentine Partners LLC Reduces Stock Position in Pinterest, Inc. (NYSE:PINS)

Ballentine Partners LLC reduced its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,916 shares of the company’s stock after selling 539 shares during the quarter. Ballentine Partners LLC’s holdings in Pinterest were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Diversify Advisory Services LLC grew its holdings in Pinterest by 211.3% during the 4th quarter. Diversify Advisory Services LLC now owns 66,106 shares of the company’s stock worth $2,027,000 after acquiring an additional 44,869 shares in the last quarter. Merit Financial Group LLC acquired a new position in Pinterest in the fourth quarter worth about $363,000. Avanza Fonder AB bought a new stake in Pinterest in the fourth quarter valued at about $2,389,000. Empirical Asset Management LLC acquired a new stake in Pinterest during the fourth quarter valued at approximately $693,000. Finally, Eagle Rock Investment Company LLC lifted its holdings in Pinterest by 6.0% during the 4th quarter. Eagle Rock Investment Company LLC now owns 68,498 shares of the company’s stock worth $1,986,000 after buying an additional 3,881 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Buying and Selling

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the sale, the insider now directly owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the transaction, the director now owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,157 shares of company stock worth $589,131. Corporate insiders own 7.11% of the company’s stock.

Pinterest Trading Up 0.3 %

NYSE:PINS opened at $32.92 on Friday. The company has a 50-day moving average of $30.64 and a 200-day moving average of $32.09. The firm has a market cap of $22.25 billion, a price-to-earnings ratio of 109.72, a price-to-earnings-growth ratio of 1.61 and a beta of 1.04. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PINS. Morgan Stanley boosted their price target on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Wedbush raised shares of Pinterest from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $41.00 price target on shares of Pinterest in a report on Monday, October 7th. Robert W. Baird dropped their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. decreased their target price on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.70.

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.