OVERSEA CHINESE BANKING Corp Ltd Sells 785 Shares of Pinterest, Inc. (NYSE:PINS)

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in Pinterest, Inc. (NYSE:PINS) by 3.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 22,816 shares of the company’s stock after selling 785 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Pinterest were worth $739,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Kornitzer Capital Management Inc. KS boosted its stake in Pinterest by 20.3% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after purchasing an additional 68,096 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Pinterest by 13.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after purchasing an additional 51,455 shares in the last quarter. GDS Wealth Management acquired a new position in shares of Pinterest during the third quarter worth about $2,517,000. Russell Investments Group Ltd. grew its holdings in shares of Pinterest by 38.0% during the first quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock worth $21,358,000 after buying an additional 169,052 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in Pinterest in the 2nd quarter valued at approximately $5,045,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PINS has been the subject of a number of recent research reports. Wedbush raised Pinterest from a “hold” rating to a “strong-buy” rating in a research report on Monday. JPMorgan Chase & Co. decreased their target price on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $41.00 price target on shares of Pinterest in a research report on Monday, October 7th. Evercore ISI decreased their price objective on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, Stifel Nicolaus dropped their target price on Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Pinterest Price Performance

PINS stock opened at $29.98 on Thursday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The stock has a market capitalization of $20.57 billion, a price-to-earnings ratio of 99.93, a PEG ratio of 2.34 and a beta of 1.02. The business’s fifty day moving average price is $31.76 and its two-hundred day moving average price is $36.27.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were 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 of the company’s stock, valued at $1,129,154.72. The trade was 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. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the sale, the director now directly owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by corporate insiders.

Pinterest 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.