QRG Capital Management Inc. Has $1.67 Million Stock Position in Pinterest, Inc. (NYSE:PINS)

QRG Capital Management Inc. cut its holdings in Pinterest, Inc. (NYSE:PINS) by 50.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,719 shares of the company’s stock after selling 51,928 shares during the quarter. QRG Capital Management Inc.’s holdings in Pinterest were worth $1,674,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brown Shipley& Co Ltd bought a new position in Pinterest during the second quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of Pinterest during the second quarter valued at about $26,000. Hexagon Capital Partners LLC boosted its position in shares of Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC grew 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 buying an additional 405 shares during the period. Finally, Rothschild Investment LLC bought a new stake in Pinterest in the 2nd quarter valued at about $35,000. 88.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PINS shares. Evercore ISI reduced their price objective on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. KeyCorp boosted their price target on shares of Pinterest from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pinterest in a research note on Monday, September 23rd. They issued a “buy” rating and a $43.00 price objective on the stock. Barclays decreased their target price on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Finally, Oppenheimer began coverage on shares of Pinterest in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $45.00 price target on the stock. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.56.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,150 shares of the business’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 value of $38,548.00. Following the sale, the director now owns 33,686 shares of the company’s stock, valued at $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction 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 owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by insiders.

Pinterest Price Performance

NYSE:PINS opened at $33.93 on Friday. The company has a market capitalization of $23.28 billion, a P/E ratio of 125.67, a P/E/G ratio of 2.49 and a beta of 1.02. The business has a fifty day simple moving average of $31.88 and a two-hundred day simple moving average of $36.36. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.

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.