First Trust Direct Indexing L.P. Decreases Stake in Pinterest, Inc. (NYSE:PINS)

First Trust Direct Indexing L.P. trimmed its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 6.3% during the third quarter, Holdings Channel reports. The fund owned 7,780 shares of the company’s stock after selling 527 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Pinterest were worth $252,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brown Shipley& Co Ltd purchased a new stake in Pinterest during the 2nd quarter worth approximately $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of Pinterest in the second quarter worth $26,000. Hexagon Capital Partners LLC raised its holdings in Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after acquiring an additional 459 shares in the last quarter. GAMMA Investing LLC raised its holdings in Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after acquiring an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in Pinterest in the second quarter valued at about $35,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PINS shares. Susquehanna decreased their target price on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research report on Wednesday, July 31st. Evercore ISI decreased their price objective on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their target price on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Wedbush reduced their price target on shares of Pinterest from $46.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pinterest in a research report on Friday, September 13th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.56.

Pinterest Price Performance

Pinterest stock opened at $32.28 on Tuesday. 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 $22.15 billion, a PE ratio of 119.56, a price-to-earnings-growth ratio of 2.45 and a beta of 1.02. The firm has a 50 day simple moving average of $31.75 and a 200-day simple moving average of $36.37.

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 on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the sale, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by corporate insiders.

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.