Hollencrest Capital Management Decreases Position in Pinterest, Inc. (NYSE:PINS)

Hollencrest Capital Management decreased its position in Pinterest, Inc. (NYSE:PINS) by 50.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,010 shares of the company’s stock after selling 1,025 shares during the period. Hollencrest Capital Management’s holdings in Pinterest were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in Pinterest by 195.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company’s stock valued at $75,000 after buying an additional 1,422 shares in the last quarter. Norden Group LLC purchased a new position in shares of Pinterest in the first quarter valued at $214,000. Janney Montgomery Scott LLC raised its stake in shares of Pinterest by 7.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 59,678 shares of the company’s stock valued at $2,069,000 after purchasing an additional 4,237 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Pinterest by 26.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,566 shares of the company’s stock worth $124,000 after purchasing an additional 737 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Pinterest by 19.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 20,424 shares of the company’s stock worth $708,000 after purchasing an additional 3,371 shares during the period. 88.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the 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 completion of the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the sale, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is owned by insiders.

Pinterest Price Performance

Shares of Pinterest stock opened at $29.18 on Friday. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The business’s 50 day simple moving average is $31.82 and its two-hundred day simple moving average is $36.33. The stock has a market capitalization of $20.02 billion, a P/E ratio of 97.27, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PINS. Benchmark reissued a “hold” rating on shares of Pinterest in a report on Friday. Wedbush raised their price target on shares of Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday. Roth Mkm decreased their price target on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. decreased their target price on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and a consensus target price of $42.22.

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.