Icon Wealth Advisors LLC Lowers Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Icon Wealth Advisors LLC lessened its stake in shares of Pinterest, Inc. (NYSE:PINS) by 84.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 947 shares of the company’s stock after selling 5,126 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Pinterest were worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. O Shaughnessy Asset Management LLC increased its stake in Pinterest by 16.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,951 shares of the company’s stock valued at $657,000 after buying an additional 2,731 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Pinterest by 15.6% in the first quarter. Public Employees Retirement System of Ohio now owns 284,775 shares of the company’s stock valued at $9,873,000 after acquiring an additional 38,405 shares in the last quarter. Dynasty Wealth Management LLC acquired a new position in shares of Pinterest during the first quarter worth about $243,000. Motley Fool Asset Management LLC raised its holdings in Pinterest by 6.4% during the first quarter. Motley Fool Asset Management LLC now owns 13,223 shares of the company’s stock worth $458,000 after purchasing an additional 801 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in Pinterest by 38.2% in the first quarter. Tidal Investments LLC now owns 62,374 shares of the company’s stock valued at $2,163,000 after purchasing an additional 17,241 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of analyst reports. Piper Sandler reissued an “overweight” rating and set a $41.00 target price (down from $45.00) on shares of Pinterest in a research note on Friday, November 8th. Evercore ISI reduced their target price on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company lowered their price target on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. KeyCorp reduced 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. Finally, Roth Mkm lowered their target price on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s 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 sale, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. This represents a 9.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the transaction, the director now directly owns 32,536 shares in the company, valued at $967,295.28. This trade represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,580 shares of company stock worth $1,063,499 in the last three months. Company insiders own 7.11% of the company’s stock.

Pinterest Trading Up 1.6 %

Shares of NYSE:PINS opened at $30.51 on Tuesday. The firm has a market cap of $20.62 billion, a price-to-earnings ratio of 101.70, a PEG ratio of 2.15 and a beta of 1.02. The stock’s 50-day moving average price is $31.73 and its two-hundred day moving average price is $35.76. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

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.