Prime Capital Investment Advisors LLC Lowers Holdings in Pinterest, Inc. (NYSE:PINS)

Prime Capital Investment Advisors LLC trimmed its stake in shares of Pinterest, Inc. (NYSE:PINS) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,331 shares of the company’s stock after selling 573 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Pinterest were worth $302,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. 1832 Asset Management L.P. purchased a new position in Pinterest in the second quarter valued at $98,655,000. Ninety One UK Ltd raised its holdings in Pinterest by 44.6% in the 2nd quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock worth $239,991,000 after purchasing an additional 1,679,348 shares during the period. Acadian Asset Management LLC boosted its position in Pinterest by 31.6% during the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock worth $248,793,000 after purchasing an additional 1,356,459 shares in the last quarter. AMI Asset Management Corp acquired a new stake in Pinterest in the second quarter valued at approximately $57,569,000. Finally, American Century Companies Inc. increased its position in shares of Pinterest by 57.6% in the second quarter. American Century Companies Inc. now owns 3,042,065 shares of the company’s stock valued at $134,064,000 after buying an additional 1,112,163 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Trading Down 3.8 %

Shares of NYSE PINS opened at $28.24 on Friday. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The stock has a market cap of $19.38 billion, a P/E ratio of 94.14, a PEG ratio of 2.29 and a beta of 1.02. The business’s fifty day simple moving average is $31.71 and its 200-day simple moving average is $36.19.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PINS. Rosenblatt Securities dropped their target price on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Roth Mkm lowered their price objective on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Oppenheimer reduced their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. Finally, Raymond James reduced their price objective on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The stock was 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 of the company’s stock, valued at $1,129,154.72. The trade was a 3.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the transaction, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their position. The disclosure for this sale can be found here. Company 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.