Icon Wealth Advisors LLC Has $217,000 Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Icon Wealth Advisors LLC increased its stake in Pinterest, Inc. (NYSE:PINS) by 10.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in shares of Pinterest by 4.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after purchasing an additional 32,539 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Pinterest by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after buying an additional 87,041 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in Pinterest by 20.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after acquiring an additional 68,096 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Pinterest by 8.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after acquiring an additional 460,708 shares during the period. Finally, GDS Wealth Management bought a new position in shares of Pinterest in the 3rd quarter worth about $2,517,000. 88.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PINS has been the subject of several recent analyst reports. Oppenheimer decreased their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered their price objective 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. Benchmark reissued a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Pinterest in a research note on Thursday, September 12th. Finally, Roth Mkm cut their price objective on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Seven equities 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. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.65.

Pinterest Stock Performance

NYSE:PINS opened at $30.32 on Friday. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The firm has a 50-day moving average price of $31.80 and a two-hundred day moving average price of $35.39. The firm has a market cap of $20.49 billion, a price-to-earnings ratio of 101.07, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02.

Insider Activity

In related news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction 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 trade represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the transaction, the chief accounting officer now owns 158,468 shares in the company, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,287 shares of company stock valued at $1,547,820 over the last three months. Corporate insiders own 7.11% of the company’s stock.

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.