UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 120,791 Shares of Pinterest, Inc. (NYSE:PINS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Pinterest, Inc. (NYSE:PINS) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,623,294 shares of the company’s stock after selling 120,791 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.53% of Pinterest worth $117,286,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PINS. Comerica Bank increased its position in shares of Pinterest by 5.4% during the 1st quarter. Comerica Bank now owns 49,865 shares of the company’s stock worth $1,729,000 after purchasing an additional 2,561 shares in the last quarter. Swedbank AB acquired a new stake in shares of Pinterest during the first quarter worth approximately $1,714,000. Cetera Investment Advisers increased its holdings in shares of Pinterest by 103.4% during the first quarter. Cetera Investment Advisers now owns 63,535 shares of the company’s stock worth $2,203,000 after buying an additional 32,305 shares in the last quarter. Cetera Advisors LLC bought a new position in shares of Pinterest in the first quarter valued at approximately $1,175,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after acquiring an additional 405 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the transaction, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’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 sale, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,287 shares of company stock worth $1,547,820 over the last ninety days. 7.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PINS has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $41.00 price target on shares of Pinterest in a report on Monday, October 7th. JPMorgan Chase & Co. lowered their target price on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Wedbush upgraded shares of Pinterest from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Oppenheimer decreased their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Rosenblatt Securities dropped their target price on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and a consensus target price of $41.65.

Pinterest Stock Performance

Shares of Pinterest stock opened at $30.32 on Monday. The stock’s fifty day simple moving average is $31.80 and its 200 day simple moving average is $35.35. The company has a market capitalization of $20.49 billion, a PE ratio of 101.07, a PEG ratio of 2.17 and a beta of 1.02. 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.