Salem Investment Counselors Inc. Sells 1,380 Shares of Pinterest, Inc. (NYSE:PINS)

Salem Investment Counselors Inc. cut its stake in shares of Pinterest, Inc. (NYSE:PINS) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,486 shares of the company’s stock after selling 1,380 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Pinterest were worth $2,566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PINS. Sequoia Financial Advisors LLC grew its holdings in shares of Pinterest by 5.2% during the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock worth $205,000 after purchasing an additional 313 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Pinterest by 3.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after acquiring an additional 339 shares during the last quarter. Leibman Financial Services Inc. increased its position in Pinterest by 1.2% in the 3rd quarter. Leibman Financial Services Inc. now owns 31,758 shares of the company’s stock valued at $1,028,000 after acquiring an additional 368 shares during the period. Toronto Dominion Bank raised its stake in shares of Pinterest by 0.7% during the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock valued at $2,510,000 after acquiring an additional 372 shares during the last quarter. Finally, Commerce Bank lifted its holdings in shares of Pinterest by 3.3% during the third quarter. Commerce Bank now owns 11,868 shares of the company’s stock worth $384,000 after purchasing an additional 378 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total value of $35,627.00. Following the completion of the transaction, the director now directly owns 31,386 shares of the company’s stock, valued at $972,338.28. This represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the sale, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. This trade represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock worth $592,685 in the last quarter. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Trading Down 0.8 %

NYSE PINS opened at $30.42 on Tuesday. The business has a fifty day simple moving average of $30.58 and a 200 day simple moving average of $32.70. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The firm has a market capitalization of $20.56 billion, a P/E ratio of 101.40, a PEG ratio of 2.17 and a beta of 1.04.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Roth Mkm decreased their price objective on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Morgan Stanley raised their price objective on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 target price (down from $40.00) on shares of Pinterest in a report on Monday. Wells Fargo & Company lowered their price target on shares of Pinterest from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Monday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $48.00 price target on shares of Pinterest in a research report on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.86.

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.