Pinterest, Inc. (NYSE:PINS) Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. trimmed its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 55.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,420 shares of the company’s stock after selling 1,795 shares during the period. Geneos Wealth Management Inc.’s holdings in Pinterest were worth $41,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now directly owns 246,921 shares of the company’s stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,157 shares of company stock valued at $589,131. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Price Performance

Shares of NYSE:PINS opened at $32.99 on Friday. The firm has a market capitalization of $22.30 billion, a PE ratio of 109.98, a P/E/G ratio of 1.69 and a beta of 1.04. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The business has a 50-day moving average of $31.01 and a two-hundred day moving average of $31.78.

Wall Street Analysts Forecast Growth

PINS has been the subject of several research analyst reports. Piper Sandler downgraded Pinterest from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $41.00 to $36.00 in a research note on Tuesday, December 10th. Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Friday, January 10th. Wells Fargo & Company decreased their price objective on shares of Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Jefferies Financial Group restated a “hold” rating and set a $32.00 target price (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Pinterest in a report on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.70.

Pinterest Company 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.