Independent Advisor Alliance Reduces Stock Position in Pinterest, Inc. (NYSE:PINS)

Independent Advisor Alliance trimmed its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 12.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,642 shares of the company’s stock after selling 1,254 shares during the period. Independent Advisor Alliance’s holdings in Pinterest were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in PINS. Tidal Investments LLC lifted its stake in Pinterest by 38.2% during the first quarter. Tidal Investments LLC now owns 62,374 shares of the company’s stock worth $2,163,000 after purchasing an additional 17,241 shares during the last quarter. Comerica Bank boosted its holdings in shares of Pinterest by 5.4% in the 1st quarter. Comerica Bank now owns 49,865 shares of the company’s stock valued at $1,729,000 after buying an additional 2,561 shares in the last quarter. iA Global Asset Management Inc. acquired a new position in shares of Pinterest in the 1st quarter valued at $722,000. Virtu Financial LLC grew its position in shares of Pinterest by 93.7% in the 1st quarter. Virtu Financial LLC now owns 11,099 shares of the company’s stock valued at $385,000 after buying an additional 5,368 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Pinterest during the 1st quarter worth $1,714,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction 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 of the company’s stock, valued at $9,729,324.72. The trade was a 9.24 % decrease in their position. The transaction 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 dated 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. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,580 shares of company stock valued at $1,063,499 in the last quarter. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Stock Down 2.2 %

Shares of PINS opened at $30.32 on Friday. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The company has a market capitalization of $20.49 billion, a PE ratio of 101.07, a P/E/G ratio of 2.19 and a beta of 1.02. The company has a 50-day simple moving average of $31.80 and a 200-day simple moving average of $35.52.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PINS shares. KeyCorp decreased their price objective on shares of Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. UBS Group decreased their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $41.00 price target on shares of Pinterest in a research report on Monday, October 7th. Wedbush raised Pinterest from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a report on Thursday, September 12th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.63.

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.