Sigma Planning Corp Lowers Position in Pinterest, Inc. (NYSE:PINS)

Sigma Planning Corp lessened its stake in Pinterest, Inc. (NYSE:PINS) by 16.2% during the third quarter, Holdings Channel reports. The firm owned 8,047 shares of the company’s stock after selling 1,561 shares during the period. Sigma Planning Corp’s holdings in Pinterest were worth $260,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PINS. Brown Shipley& Co Ltd bought a new position in Pinterest during the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC purchased a new position in Pinterest during the second quarter worth about $26,000. Hexagon Capital Partners LLC grew its position in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC increased its stake in Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Pinterest during the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Roth Mkm reduced their target price on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $41.00 target price on shares of Pinterest in a research report on Monday, October 7th. Robert W. Baird lowered their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Stifel Nicolaus reduced their price target on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Benchmark reaffirmed a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Seven 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Pinterest Stock Performance

Shares of PINS stock opened at $28.24 on Friday. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The business’s fifty day moving average is $31.71 and its 200 day moving average is $36.19. The company has a market capitalization of $19.38 billion, a PE ratio of 94.14, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02.

Insider Buying and Selling at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the 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 owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 9.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $38,548.00. Following the sale, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

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.