Icon Wealth Advisors LLC Reduces Position in Pinterest, Inc. (NYSE:PINS)

Icon Wealth Advisors LLC lessened its stake in Pinterest, Inc. (NYSE:PINS) by 84.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 947 shares of the company’s stock after selling 5,126 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Pinterest were worth $31,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PINS. O Shaughnessy Asset Management LLC raised its position in shares of Pinterest by 16.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,951 shares of the company’s stock valued at $657,000 after buying an additional 2,731 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Pinterest by 15.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 284,775 shares of the company’s stock worth $9,873,000 after purchasing an additional 38,405 shares during the period. Dynasty Wealth Management LLC acquired a new stake in shares of Pinterest during the 1st quarter worth about $243,000. Motley Fool Asset Management LLC raised its holdings in Pinterest by 6.4% in the 1st quarter. Motley Fool Asset Management LLC now owns 13,223 shares of the company’s stock valued at $458,000 after buying an additional 801 shares during the period. Finally, Tidal Investments LLC lifted its position in Pinterest by 38.2% in the first quarter. Tidal Investments LLC now owns 62,374 shares of the company’s stock valued at $2,163,000 after buying an additional 17,241 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 directly owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction 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 approximately $9,729,324.72. This trade represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,580 shares of company stock worth $1,063,499 in the last ninety days. 7.11% of the stock is owned by corporate insiders.

Pinterest Trading Up 1.6 %

PINS stock opened at $30.51 on Tuesday. The stock has a market cap of $20.62 billion, a P/E ratio of 101.70, a PEG ratio of 2.15 and a beta of 1.02. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The company’s 50 day moving average is $31.73 and its two-hundred day moving average is $35.76.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of recent analyst reports. Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Oppenheimer lowered their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Roth Mkm decreased their target price on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Citigroup lowered their target price on Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Stifel Nicolaus reduced their price target on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and an average price target of $42.00.

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.