Quarry LP Sells 1,263 Shares of Pinterest, Inc. (NYSE:PINS)

Quarry LP decreased its position in Pinterest, Inc. (NYSE:PINS) by 60.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 842 shares of the company’s stock after selling 1,263 shares during the quarter. Quarry LP’s holdings in Pinterest were worth $27,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brown Shipley& Co Ltd bought a new stake in shares of Pinterest in the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC bought a new position in shares of Pinterest in the second quarter worth approximately $26,000. Rothschild Investment LLC purchased a new position in shares of Pinterest in the second quarter worth $35,000. International Assets Investment Management LLC bought a new stake in Pinterest during the 2nd quarter valued at $40,000. Finally, V Square Quantitative Management LLC purchased a new stake in Pinterest during the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PINS. Deutsche Bank Aktiengesellschaft started coverage on shares of Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 target price for the company. TD Cowen initiated coverage on Pinterest in a research report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price objective on the stock. UBS Group decreased their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. Oppenheimer cut their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Rosenblatt Securities dropped their target price on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.46.

Pinterest Stock Down 3.5 %

Shares of Pinterest stock opened at $30.81 on Friday. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The company has a market cap of $20.82 billion, a price-to-earnings ratio of 102.70, a price-to-earnings-growth ratio of 2.28 and a beta of 1.02. The company’s 50 day moving average is $31.70 and its 200 day moving average is $34.80.

Insider Transactions at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the transaction, the chief accounting officer now directly owns 158,468 shares in the company, valued at approximately $4,893,491.84. This trade represents a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s 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 sale, the insider now directly owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,287 shares of company stock worth $1,547,820 in the last ninety days. 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.