Resonant Capital Advisors LLC Reduces Stock Position in Pinterest, Inc. (NYSE:PINS)

Resonant Capital Advisors LLC trimmed its holdings in Pinterest, Inc. (NYSE:PINS) by 3.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,101 shares of the company’s stock after selling 384 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Pinterest were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in shares of Pinterest by 12.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,153 shares of the company’s stock valued at $1,902,000 after purchasing an additional 4,712 shares during the period. Algert Global LLC purchased a new stake in shares of Pinterest in the second quarter worth about $463,000. Creative Planning boosted its position in shares of Pinterest by 27.0% in the second quarter. Creative Planning now owns 48,954 shares of the company’s stock valued at $2,157,000 after acquiring an additional 10,405 shares during the period. NewEdge Advisors LLC grew its stake in Pinterest by 300.8% during the second quarter. NewEdge Advisors LLC now owns 22,811 shares of the company’s stock valued at $1,005,000 after acquiring an additional 17,120 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Pinterest by 8.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,109 shares of the company’s stock worth $666,000 after acquiring an additional 1,181 shares during the period. Institutional investors own 88.81% of the company’s stock.

Pinterest Trading Up 0.4 %

PINS stock opened at $33.09 on Tuesday. The stock has a market capitalization of $22.36 billion, a price-to-earnings ratio of 110.31, a PEG ratio of 1.68 and a beta of 1.04. The firm’s 50-day moving average price is $31.01 and its two-hundred day moving average price is $31.65. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

Insider Buying and Selling

In other news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the sale, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. This trade represents a 2.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now directly owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock valued at $589,131 over the last ninety days. 7.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on PINS. Wells Fargo & Company cut 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, January 13th. JPMorgan Chase & Co. decreased their target price on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Raymond James dropped their price target on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Friday, January 10th. Finally, Robert W. Baird dropped their target price on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.70.

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.