Dupont Capital Management Corp reduced its stake in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 88.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,699 shares of the company’s stock after selling 35,423 shares during the quarter. Dupont Capital Management Corp’s holdings in Pinterest were worth $128,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Cohanzick Management LLC purchased a new stake in shares of Pinterest in the 1st quarter worth about $25,000. Private Trust Co. NA grew its position in shares of Pinterest by 315.3% in the 1st quarter. Private Trust Co. NA now owns 1,142 shares of the company’s stock worth $31,000 after buying an additional 867 shares during the period. CI Investments Inc. boosted its stake in Pinterest by 114.2% in the 4th quarter. CI Investments Inc. now owns 1,634 shares of the company’s stock worth $40,000 after purchasing an additional 871 shares in the last quarter. Stonebridge Capital Advisors LLC boosted its stake in Pinterest by 5,138.9% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,886 shares of the company’s stock worth $46,000 after purchasing an additional 1,850 shares in the last quarter. Finally, Clearstead Trust LLC bought a new position in Pinterest in the 4th quarter worth about $62,000. 75.66% of the stock is owned by hedge funds and other institutional investors.
Pinterest Stock Down 1.7 %
Shares of NYSE:PINS opened at $27.98 on Friday. The firm’s 50 day moving average price is $25.63 and its 200-day moving average price is $25.73. Pinterest, Inc. has a twelve month low of $16.77 and a twelve month high of $30.86. The stock has a market capitalization of $19.13 billion, a PE ratio of -62.17 and a beta of 1.02.
Insider Buying and Selling
In related news, SVP Naveen Gavini sold 52,189 shares of the stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $30.55, for a total value of $1,594,373.95. Following the completion of the sale, the senior vice president now directly owns 237,404 shares of the company’s stock, valued at approximately $7,252,692.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Pinterest news, SVP Naveen Gavini sold 52,189 shares of the stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $30.55, for a total transaction of $1,594,373.95. Following the completion of the sale, the senior vice president now directly owns 237,404 shares of the company’s stock, valued at approximately $7,252,692.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Evan Sharp sold 55,241 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $27.04, for a total transaction of $1,493,716.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 632,375 shares of company stock valued at $16,235,458. 6.85% of the stock is owned by corporate insiders.
Analyst Ratings Changes
PINS has been the topic of a number of analyst reports. Piper Sandler dropped their price target on shares of Pinterest from $32.00 to $31.00 in a research note on Friday, April 28th. Robert W. Baird dropped their price target on shares of Pinterest from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, April 28th. UBS Group dropped their price target on shares of Pinterest from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, April 28th. Loop Capital upped their price target on shares of Pinterest from $28.00 to $37.00 in a research note on Monday, July 17th. Finally, DA Davidson lowered their target price on shares of Pinterest from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 29th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.56.
Pinterest Profile
Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.
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