Kingsview Wealth Management LLC Cuts Stake in Pinterest, Inc. (NYSE:PINS)

Kingsview Wealth Management LLC cut its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 42.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,006 shares of the company’s stock after selling 14,303 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Pinterest were worth $615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PINS. Leibman Financial Services Inc. grew its position in shares of Pinterest by 0.9% during the second quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after buying an additional 266 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after purchasing an additional 313 shares during the last quarter. Raymond James Trust N.A. raised its holdings in shares of Pinterest by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after purchasing an additional 319 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Pinterest by 0.7% during the 2nd quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after purchasing an additional 372 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. grew its stake in shares of Pinterest by 1.6% during the second quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock worth $1,022,000 after purchasing an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated 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 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 document filed with the SEC, which is available through this hyperlink. 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 sale, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 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 Stock Performance

PINS stock opened at $30.33 on Thursday. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The company has a fifty day moving average of $31.81 and a 200-day moving average of $35.56. The stock has a market capitalization of $20.50 billion, a PE ratio of 101.10, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PINS. Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price target for the company. Raymond James lowered their price target on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Benchmark reissued a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Wells Fargo & Company lowered their target price on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Barclays cut their price target on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Seven research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.63.

Pinterest 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.