Independent Solutions Wealth Management LLC Sells 34,219 Shares of Pinterest, Inc. (NYSE:PINS)

Independent Solutions Wealth Management LLC lessened its holdings in Pinterest, Inc. (NYSE:PINS) by 82.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,374 shares of the company’s stock after selling 34,219 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Pinterest were worth $239,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Brown Shipley& Co Ltd purchased a new position in Pinterest during the 2nd quarter worth $25,000. Wellington Shields Capital Management LLC purchased a new position in Pinterest during the second quarter worth about $26,000. Rothschild Investment LLC bought a new stake in Pinterest in the 2nd quarter worth about $35,000. V Square Quantitative Management LLC purchased a new stake in Pinterest in the 3rd quarter valued at about $37,000. Finally, Crewe Advisors LLC lifted its position in shares of Pinterest by 91.1% during the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after buying an additional 550 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PINS shares. JPMorgan Chase & Co. dropped their price target on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Raymond James cut their price target on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price objective for the company. Oppenheimer dropped their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, KeyCorp reduced their target price on shares of Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average target price of $41.46.

Pinterest Price Performance

NYSE PINS opened at $29.61 on Friday. The company’s 50 day simple moving average is $31.40 and its two-hundred day simple moving average is $34.40. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The stock has a market capitalization of $20.01 billion, a PE ratio of 98.70, a P/E/G ratio of 2.17 and a beta of 1.02.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total transaction of $35,627.00. Following the completion of the transaction, the director now owns 31,386 shares of the company’s stock, valued at approximately $972,338.28. The trade was a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the sale, the chief accounting officer now directly owns 158,468 shares in the company, valued at $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,437 shares of company stock valued at $1,583,447. 7.11% of the stock is currently owned by company 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.