Amalgamated Bank Sells 596 Shares of Pinterest, Inc. (NYSE:PINS)

Amalgamated Bank lessened its holdings in Pinterest, Inc. (NYSE:PINS) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,420 shares of the company’s stock after selling 596 shares during the quarter. Amalgamated Bank’s holdings in Pinterest were worth $1,276,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PINS. Mitsubishi UFJ Trust & Banking Corp raised its position in Pinterest by 13.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock worth $15,598,000 after acquiring an additional 51,455 shares in the last quarter. Russell Investments Group Ltd. raised its position in 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 acquiring an additional 169,052 shares in the last quarter. Artemis Investment Management LLP bought a new stake in Pinterest during the second quarter worth $5,045,000. Quantbot Technologies LP raised its position in Pinterest by 217.8% during the second quarter. Quantbot Technologies LP now owns 118,749 shares of the company’s stock worth $5,233,000 after acquiring an additional 81,380 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Pinterest by 4.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 688,071 shares of the company’s stock worth $23,855,000 after acquiring an additional 28,261 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on 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 approximately $1,129,154.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Down 2.2 %

Shares of Pinterest stock opened at $29.98 on Thursday. The company 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. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The firm’s 50-day moving average price is $31.76 and its two-hundred day moving average price is $36.27.

Analyst Ratings Changes

PINS has been the topic of several research reports. Evercore ISI decreased their price objective on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a report on Thursday, September 12th. JPMorgan Chase & Co. decreased their price objective on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. UBS Group decreased their price objective on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Robert W. Baird decreased their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.00.

About Pinterest

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.