Nisa Investment Advisors LLC Sells 24,945 Shares of Pinterest, Inc. (NYSE:PINS)

Nisa Investment Advisors LLC cut its stake in Pinterest, Inc. (NYSE:PINS) by 58.5% in the third quarter, Holdings Channel.com reports. The firm owned 17,715 shares of the company’s stock after selling 24,945 shares during the period. Nisa Investment Advisors LLC’s holdings in Pinterest were worth $573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Pinterest by 13.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after purchasing an additional 51,455 shares during the period. Russell Investments Group Ltd. boosted its holdings in Pinterest by 38.0% in the 1st quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock valued at $21,358,000 after purchasing an additional 169,052 shares during the period. Artemis Investment Management LLP bought a new stake in Pinterest in the 2nd quarter valued at $5,045,000. Quantbot Technologies LP raised its stake in shares of Pinterest by 217.8% in the 2nd quarter. Quantbot Technologies LP now owns 118,749 shares of the company’s stock valued at $5,233,000 after buying an additional 81,380 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Pinterest by 4.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,071 shares of the company’s stock valued at $23,855,000 after buying an additional 28,261 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PINS shares. Raymond James dropped their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Barclays dropped their price objective on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Oppenheimer started coverage on shares of Pinterest in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $45.00 price objective for the company. Wolfe Research started coverage on shares of Pinterest in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, Wells Fargo & Company dropped their price objective on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.56.

Insider Buying and Selling at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Pinterest Price Performance

Pinterest stock opened at $32.28 on Tuesday. The company’s 50 day simple moving average is $31.75 and its 200 day simple moving average is $36.37. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm has a market capitalization of $22.15 billion, a price-to-earnings ratio of 119.56, a PEG ratio of 2.45 and a beta of 1.02.

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.