Daiwa Securities Group Inc. Decreases Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Daiwa Securities Group Inc. lowered its stake in shares of Pinterest, Inc. (NYSE:PINS) by 9.6% during the third quarter, Holdings Channel reports. The institutional investor owned 64,161 shares of the company’s stock after selling 6,841 shares during the period. Daiwa Securities Group Inc.’s holdings in Pinterest were worth $2,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brown Shipley& Co Ltd purchased a new stake in shares of Pinterest in the second quarter valued at about $25,000. Wellington Shields Capital Management LLC purchased a new stake in shares of Pinterest in the second quarter valued at about $26,000. Hexagon Capital Partners LLC lifted its holdings in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of Pinterest in the second quarter valued at about $35,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction 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 directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. This represents a 9.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were 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 $967,295.28. This trade represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,580 shares of company stock worth $1,063,499. 7.11% of the stock is currently owned by company insiders.

Pinterest Trading Down 2.2 %

Shares of PINS stock opened at $30.32 on Friday. The company has a market capitalization of $20.49 billion, a PE ratio of 101.07, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. The firm has a fifty day simple moving average of $31.80 and a 200-day simple moving average of $35.52. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of analyst reports. KeyCorp cut their price objective on shares of Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a research report on Thursday, September 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $41.00 price objective on shares of Pinterest in a research report on Monday, October 7th. Oppenheimer cut their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Seven 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.63.

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.