Los Angeles Capital Management LLC Sells 320,510 Shares of Pinterest, Inc. (NYSE:PINS)

Los Angeles Capital Management LLC reduced its position in shares of Pinterest, Inc. (NYSE:PINS) by 83.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 64,472 shares of the company’s stock after selling 320,510 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Pinterest were worth $2,087,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other Pinterest 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 transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company’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 transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the 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 transaction, the director now owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PINS. Evercore ISI cut their target price on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. UBS Group reduced their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company lowered their price target on Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Stifel Nicolaus cut their price objective on Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $48.00 target price on shares of Pinterest in a research note on Thursday, September 12th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Pinterest Price Performance

Shares of Pinterest stock opened at $29.98 on Thursday. The business has a fifty day simple moving average of $31.76 and a two-hundred day simple moving average of $36.27. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The company has a market capitalization of $20.57 billion, a price-to-earnings ratio of 99.93, a P/E/G ratio of 2.34 and a beta of 1.02.

About Pinterest

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.