Icon Wealth Advisors LLC Boosts Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Icon Wealth Advisors LLC lifted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 10.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,692 shares of the company’s stock after acquiring an additional 619 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Pinterest were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of PINS. Suvretta Capital Management LLC boosted its stake in Pinterest by 50.2% in the 3rd quarter. Suvretta Capital Management LLC now owns 615,911 shares of the company’s stock worth $19,937,000 after purchasing an additional 205,960 shares during the period. Hantz Financial Services Inc. boosted its position in shares of Pinterest by 3.7% in the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after acquiring an additional 339 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Pinterest by 0.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,982 shares of the company’s stock valued at $4,013,000 after acquiring an additional 1,008 shares in the last quarter. Bell Investment Advisors Inc increased its holdings in Pinterest by 485.3% during the 3rd quarter. Bell Investment Advisors Inc now owns 4,033 shares of the company’s stock worth $131,000 after acquiring an additional 3,344 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Pinterest in the 3rd quarter worth approximately $11,109,000. 88.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the transaction, the director now owns 33,686 shares in the company, valued at $1,129,154.72. This represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the sale, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,287 shares of company stock worth $1,547,820. 7.11% of the stock is currently owned by company insiders.

Pinterest Price Performance

NYSE:PINS opened at $30.32 on Friday. The firm has a market capitalization of $20.49 billion, a P/E ratio of 101.07, a P/E/G ratio of 2.17 and a beta of 1.02. The company has a fifty day moving average of $31.80 and a 200 day moving average of $35.39. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PINS. Robert W. Baird reduced their price target on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a research note on Thursday, September 12th. UBS Group dropped their price target on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Raymond James decreased their price objective on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Roth Mkm dropped their target price on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and an average target price of $41.65.

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.