Scotia Capital Inc. trimmed its stake in shares of Pinterest, Inc. (NYSE:PINS) by 41.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,075 shares of the company’s stock after selling 26,025 shares during the period. Scotia Capital Inc.’s holdings in Pinterest were worth $1,539,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Flagship Harbor Advisors LLC increased its stake in Pinterest by 152.2% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,135 shares of the company’s stock valued at $25,000 after buying an additional 685 shares during the last quarter. Sonora Investment Management LLC acquired a new stake in Pinterest in the 3rd quarter valued at $25,000. Exchange Traded Concepts LLC increased its stake in Pinterest by 488.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 635 shares of the company’s stock valued at $26,000 after buying an additional 527 shares during the last quarter. Rosenberg Matthew Hamilton acquired a new stake in Pinterest in the 2nd quarter valued at $33,000. Finally, Adams Wealth Management acquired a new stake in Pinterest in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 54.51% of the company’s stock.
Several research firms have recently weighed in on PINS. Pivotal Research boosted their price objective on shares of Pinterest from $44.50 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, October 29th. ValuEngine lowered shares of Pinterest from a “buy” rating to a “hold” rating in a research note on Monday, November 2nd. Wells Fargo & Company boosted their price objective on shares of Pinterest from $40.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 16th. Robert W. Baird boosted their price objective on shares of Pinterest from $41.00 to $68.00 in a research note on Thursday, October 29th. Finally, The Goldman Sachs Group raised shares of Pinterest from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $61.00 in a report on Wednesday, October 21st. Eleven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $55.44.
In other news, insider Evan Sharp sold 1,496,918 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $37.15, for a total transaction of $55,610,503.70. Following the completion of the sale, the insider now owns 34,599 shares of the company’s stock, valued at approximately $1,285,352.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Benjamin Silbermann sold 86,450 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $36.50, for a total transaction of $3,155,425.00. Following the transaction, the chief executive officer now owns 86,450 shares of the company’s stock, valued at $3,155,425. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,684,822 shares of company stock valued at $211,964,424.
Shares of Pinterest stock opened at $67.42 on Friday. The company has a 50 day moving average of $55.57 and a 200-day moving average of $35.49. Pinterest, Inc. has a 1-year low of $10.10 and a 1-year high of $68.93. The company has a market cap of $41.67 billion, a PE ratio of -94.96 and a beta of 1.72.
Pinterest (NYSE:PINS) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.26. Pinterest had a negative net margin of 32.88% and a negative return on equity of 20.50%. As a group, equities analysts predict that Pinterest, Inc. will post -0.53 earnings per share for the current year.
Pinterest Company Profile
Pinterest, Inc provides visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, home and style ideas, travel destinations, and others. It shows them visual recommendations based on people personal taste and interests.
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