MML Investors Services LLC Cuts Stock Holdings in Pinterest, Inc. (NYSE:PINS)

MML Investors Services LLC reduced its stake in Pinterest, Inc. (NYSE:PINS) by 49.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,273 shares of the company’s stock after selling 22,333 shares during the period. MML Investors Services LLC’s holdings in Pinterest were worth $753,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Maverick Capital Ltd. boosted its stake in shares of Pinterest by 47.6% in the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock valued at $1,851,000 after buying an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Pinterest by 8.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock worth $49,855,000 after buying an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Pinterest by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after acquiring an additional 32,539 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Pinterest by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock worth $137,669,000 after acquiring an additional 87,041 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its holdings in Pinterest by 20.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after acquiring an additional 68,096 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the sale, the director now owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,437 shares of company stock valued at $1,583,447. Corporate insiders own 7.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PINS shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research report on Tuesday, December 10th. KeyCorp decreased their price target on Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Robert W. Baird lowered their price objective on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. TD Cowen began coverage on Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 target price on the stock. Finally, Roth Mkm lowered their price target on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.46.

Pinterest Stock Down 0.4 %

NYSE PINS opened at $29.49 on Friday. The stock has a market capitalization of $19.93 billion, a P/E ratio of 98.30, a P/E/G ratio of 2.17 and a beta of 1.02. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The firm has a 50-day moving average price of $31.31 and a 200 day moving average price of $34.32.

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.