Polymer Capital Management HK LTD Sells 71,238 Shares of Pinterest, Inc. (NYSE:PINS)

Polymer Capital Management HK LTD lowered its position in Pinterest, Inc. (NYSE:PINS) by 88.3% in the 3rd quarter, Holdings Channel reports. The firm owned 9,400 shares of the company’s stock after selling 71,238 shares during the quarter. Polymer Capital Management HK LTD’s holdings in Pinterest were worth $304,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PINS. Comerica Bank lifted its stake in Pinterest by 5.4% in the first quarter. Comerica Bank now owns 49,865 shares of the company’s stock worth $1,729,000 after purchasing an additional 2,561 shares during the last quarter. Cetera Investment Advisers lifted its stake in Pinterest by 103.4% in the first quarter. Cetera Investment Advisers now owns 63,535 shares of the company’s stock worth $2,203,000 after purchasing an additional 32,305 shares during the last quarter. Cetera Advisors LLC bought a new stake in Pinterest in the first quarter worth about $1,175,000. GAMMA Investing LLC lifted its stake in Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its stake in Pinterest by 17.9% in the second quarter. Park Avenue Securities LLC now owns 16,477 shares of the company’s stock worth $726,000 after purchasing an additional 2,502 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PINS shares. JPMorgan Chase & Co. decreased their price target on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Oppenheimer decreased their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. KeyCorp decreased their price target 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. Roth Mkm decreased their price target on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Finally, TD Cowen started coverage on shares of Pinterest in a research note on Tuesday, November 26th. They set a “buy” rating and a $38.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.65.

Insiders Place Their Bets

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

Pinterest Trading Up 3.1 %

NYSE PINS opened at $32.30 on Thursday. The firm’s fifty day simple moving average is $31.80 and its two-hundred day simple moving average is $35.16. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The firm has a market capitalization of $21.83 billion, a P/E ratio of 107.67, a P/E/G ratio of 2.21 and a beta of 1.02.

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.