Focused Wealth Management Inc Reduces Holdings in Pinterest, Inc. (NYSE:PINS)

Focused Wealth Management Inc reduced its position in Pinterest, Inc. (NYSE:PINS) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,940 shares of the company’s stock after selling 900 shares during the quarter. Focused Wealth Management Inc’s holdings in Pinterest were worth $645,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Pinterest by 12.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,636 shares of the company’s stock valued at $958,000 after purchasing an additional 3,101 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Pinterest by 195.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company’s stock worth $75,000 after purchasing an additional 1,422 shares during the last quarter. Norden Group LLC purchased a new position in Pinterest during the first quarter worth about $214,000. Janney Montgomery Scott LLC boosted its holdings in Pinterest by 7.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 59,678 shares of the company’s stock valued at $2,069,000 after purchasing an additional 4,237 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Pinterest by 26.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,566 shares of the company’s stock valued at $124,000 after buying an additional 737 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Activity at Pinterest

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on PINS. Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a research report on Monday, September 23rd. They issued a “buy” rating and a $43.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $48.00 target price on shares of Pinterest in a research note on Wednesday, July 31st. Morgan Stanley upped their price target on Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Raymond James lowered their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group boosted their price objective on Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.56.

Pinterest Trading Up 1.4 %

Shares of Pinterest stock opened at $32.73 on Wednesday. The company has a fifty day simple moving average of $31.77 and a 200-day simple moving average of $36.37. The stock has a market cap of $22.46 billion, a price-to-earnings ratio of 121.22, a PEG ratio of 2.47 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.