Pinterest, Inc. (NYSE:PINS) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA decreased its holdings in Pinterest, Inc. (NYSE:PINS) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,134,161 shares of the company’s stock after selling 1,007 shares during the quarter. Glenmede Trust Co. NA owned 0.17% of Pinterest worth $36,713,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Tidal Investments LLC lifted its holdings in shares of 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 purchasing an additional 17,241 shares in the last quarter. Comerica Bank grew its stake in shares of Pinterest by 5.4% in the 1st quarter. Comerica Bank now owns 49,865 shares of the company’s stock valued at $1,729,000 after buying an additional 2,561 shares in the last quarter. iA Global Asset Management Inc. acquired a new position in Pinterest in the first quarter worth approximately $722,000. Plato Investment Management Ltd raised its position in Pinterest by 398.3% during the first quarter. Plato Investment Management Ltd now owns 8,655 shares of the company’s stock valued at $300,000 after acquiring an additional 6,918 shares in the last quarter. Finally, Virtu Financial LLC grew its position in Pinterest by 93.7% in the first quarter. Virtu Financial LLC now owns 11,099 shares of the company’s stock worth $385,000 after acquiring an additional 5,368 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Down 2.2 %

Shares of PINS opened at $30.33 on Thursday. The stock’s fifty day simple moving average is $31.81 and its 200-day simple moving average is $35.56. The firm has a market capitalization of $20.50 billion, a PE ratio of 101.10, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PINS shares. KeyCorp cut their price target on shares of Pinterest from $45.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Wells Fargo & Company dropped their price target on Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Stifel Nicolaus reduced their price objective on Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their target price on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, Citigroup reduced their price target on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Seven research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.63.

Insiders Place Their Bets

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction on Friday, September 27th. The stock was 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 directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The trade was a 9.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now owns 33,686 shares of the company’s stock, valued at $1,129,154.72. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,580 shares of company stock valued at $1,063,499. 7.11% of the stock is currently owned by insiders.

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.