Daiwa Securities Group Inc. Lowers Stake in Pinterest, Inc. (NYSE:PINS)

Daiwa Securities Group Inc. reduced its position in shares of Pinterest, Inc. (NYSE:PINS) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,161 shares of the company’s stock after selling 6,841 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Pinterest were worth $2,076,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brown Shipley& Co Ltd purchased a new position in Pinterest in the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC purchased a new position in Pinterest in the 2nd quarter valued at about $26,000. Hexagon Capital Partners LLC lifted its stake in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC lifted its stake in Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in Pinterest in the 2nd quarter valued at about $35,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares in the company, 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 legal filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,580 shares of company stock worth $1,063,499. 7.11% of the stock is owned by company insiders.

Pinterest Stock Performance

NYSE PINS opened at $30.32 on Friday. The firm has a market cap of $20.49 billion, a PE ratio of 101.07, a P/E/G ratio of 2.19 and a beta of 1.02. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The firm’s fifty day moving average is $31.80 and its two-hundred day moving average is $35.52.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Raymond James decreased their price target on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. UBS Group cut their price objective on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $41.00 price objective on shares of Pinterest in a report on Monday, October 7th. Rosenblatt Securities cut their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, 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 report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.63.

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.