Intech Investment Management LLC Decreases Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Intech Investment Management LLC lowered its stake in Pinterest, Inc. (NYSE:PINS) by 7.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 30,554 shares of the company’s stock after selling 2,362 shares during the period. Intech Investment Management LLC’s holdings in Pinterest were worth $989,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board boosted its stake in shares of Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after buying an additional 2,996,750 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in Pinterest in the second quarter worth about $98,655,000. Ninety One UK Ltd grew its stake in shares of Pinterest by 44.6% during the 2nd quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock valued at $239,991,000 after purchasing an additional 1,679,348 shares during the period. Acadian Asset Management LLC increased its position in shares of Pinterest by 31.6% during the 2nd quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after purchasing an additional 1,356,459 shares during the last quarter. Finally, AMI Asset Management Corp bought a new position in shares of Pinterest in the 2nd quarter worth approximately $57,569,000. Institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PINS. Rosenblatt Securities cut their target price on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. TD Cowen began coverage on Pinterest in a research report on Tuesday. They set a “buy” rating and a $38.00 target price on the stock. Benchmark restated a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.63.

Insider Buying and Selling at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest 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 completion of the sale, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. This trade represents a 9.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’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 in the company, valued at $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,580 shares of company stock worth $1,063,499 over the last 90 days. Company insiders own 7.11% of the company’s stock.

Pinterest Trading Down 2.2 %

Shares of NYSE PINS opened at $30.33 on Thursday. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The stock has a market capitalization of $20.50 billion, a price-to-earnings ratio of 101.10, a P/E/G ratio of 2.19 and a beta of 1.02. The firm’s 50-day moving average price is $31.81 and its 200-day moving average price is $35.56.

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.