Hohimer Wealth Management LLC Decreases Holdings in Pinterest, Inc. (NYSE:PINS)

Hohimer Wealth Management LLC lowered its position in Pinterest, Inc. (NYSE:PINS) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,554 shares of the company’s stock after selling 1,247 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Pinterest were worth $730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its stake in shares of Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after acquiring an additional 313 shares during the last quarter. Raymond James Trust N.A. lifted its position in Pinterest by 1.1% in the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after purchasing an additional 319 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Pinterest by 3.7% during the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after purchasing an additional 339 shares during the period. Leibman Financial Services Inc. grew its holdings in shares of Pinterest by 1.2% in the third quarter. Leibman Financial Services Inc. now owns 31,758 shares of the company’s stock worth $1,028,000 after purchasing an additional 368 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of Pinterest by 0.7% in the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after buying an additional 372 shares during the period. 88.81% of the stock is currently owned by institutional investors.

Pinterest Trading Down 3.7 %

Shares of NYSE:PINS opened at $31.83 on Wednesday. The stock has a fifty day simple moving average of $31.77 and a two-hundred day simple moving average of $34.84. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The stock has a market capitalization of $21.51 billion, a price-to-earnings ratio of 106.10, a PEG ratio of 2.28 and a beta of 1.02.

Analyst Ratings Changes

PINS has been the topic of a number of recent analyst reports. Rosenblatt Securities cut their price target on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Benchmark reissued a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered their price target on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a research report on Tuesday. Finally, Piper Sandler downgraded Pinterest from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $41.00 to $36.00 in a report on Tuesday. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and a consensus price target of $41.46.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This represents a 9.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction 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. The trade was a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,287 shares of company stock worth $1,547,820 over the last three months. 7.11% of the stock is currently owned by corporate insiders.

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.