Point72 Hong Kong Ltd Cuts Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Point72 Hong Kong Ltd cut its position in shares of Pinterest, Inc. (NYSE:PINS) by 48.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,252 shares of the company’s stock after selling 10,682 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Pinterest were worth $364,000 as of its most recent filing with the SEC.

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

Pinterest Stock Up 0.3 %

PINS stock opened at $30.42 on Tuesday. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The stock has a market cap of $20.56 billion, a price-to-earnings ratio of 101.40, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. The business has a fifty day moving average of $31.80 and a two-hundred day moving average of $35.26.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PINS shares. Benchmark reissued a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $41.00 target price on shares of Pinterest in a research report on Monday, October 7th. KeyCorp reduced their price target on shares of Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Wedbush raised shares of Pinterest from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research note on Thursday, September 12th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.65.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the sale, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 9.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the transaction, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. This trade represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,287 shares of company stock worth $1,547,820. 7.11% of the stock is currently owned by company insiders.

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.