King Luther Capital Management Corp cut its stake in Pinterest, Inc. (NYSE:PINS – Free Report) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,656 shares of the company’s stock after selling 29,829 shares during the period. King Luther Capital Management Corp’s holdings in Pinterest were worth $13,999,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Wellington Shields Capital Management LLC acquired a new stake in shares of Pinterest during the 2nd quarter worth approximately $26,000. Hexagon Capital Partners LLC boosted its holdings in shares of 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 purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 405 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of Pinterest during the 2nd quarter worth $35,000. Finally, Quent Capital LLC lifted its position in shares of Pinterest by 71.2% during the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after buying an additional 460 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.
Pinterest Stock Down 0.5 %
Pinterest stock opened at $30.36 on Friday. The company has a market capitalization of $20.83 billion, a PE ratio of 144.58, a PEG ratio of 3.22 and a beta of 1.00. The firm’s fifty day moving average is $32.58 and its 200 day moving average is $36.73. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19.
Analyst Upgrades and Downgrades
Several research analysts have commented on PINS shares. JPMorgan Chase & Co. lowered their target price on Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and issued a $45.00 price objective on shares of Pinterest in a research note on Friday, September 13th. Wolfe Research began coverage on shares of Pinterest in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Robert W. Baird dropped their price target on Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, Barclays cut their price objective on Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.78.
Get Our Latest Stock Report on PINS
Insider Buying and Selling at Pinterest
In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.11% of the company’s stock.
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.
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