Simon Quick Advisors LLC Sells 2,749 Shares of Pinterest, Inc. (NYSE:PINS)

Simon Quick Advisors LLC lowered its stake in shares of Pinterest, Inc. (NYSE:PINS) by 20.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,931 shares of the company’s stock after selling 2,749 shares during the quarter. Simon Quick Advisors LLC’s holdings in Pinterest were worth $317,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new position in Pinterest in the third quarter valued at about $153,829,000. Southpoint Capital Advisors LP bought a new position in shares of Pinterest in the 3rd quarter valued at about $123,006,000. Ontario Teachers Pension Plan Board grew its position in shares of Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after buying an additional 2,996,750 shares during the period. Nordea Investment Management AB raised its stake in shares of Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after buying an additional 2,093,248 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Pinterest by 582.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company’s stock valued at $65,741,000 after buying an additional 1,934,653 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares in the company, valued at $967,295.28. This trade represents a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was 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 in the company, 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. Insiders sold 19,157 shares of company stock worth $589,131 in the last quarter. Corporate insiders own 7.11% of the company’s stock.

Pinterest Trading Up 3.8 %

Shares of PINS stock opened at $32.85 on Friday. The firm’s fifty day moving average price is $30.48 and its two-hundred day moving average price is $32.16. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The firm has a market capitalization of $22.20 billion, a P/E ratio of 109.49, a PEG ratio of 1.63 and a beta of 1.04.

Wall Street Analysts Forecast Growth

PINS has been the subject of a number of analyst reports. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a report on Tuesday, December 10th. TD Cowen began coverage on Pinterest in a report on Tuesday, November 26th. They set a “buy” rating and a $38.00 target price on the stock. Oppenheimer lowered their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, Rosenblatt Securities reduced their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Nine analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus price target of $40.70.

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.