Cannell & Spears LLC Sells 153,586 Shares of Pinterest, Inc. (NYSE:PINS)

Cannell & Spears LLC reduced its stake in Pinterest, Inc. (NYSE:PINS) by 53.8% in the 4th quarter, Holdings Channel reports. The firm owned 132,080 shares of the company’s stock after selling 153,586 shares during the period. Cannell & Spears LLC’s holdings in Pinterest were worth $3,830,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in shares of Pinterest during the 4th quarter worth $28,000. GAMMA Investing LLC boosted its holdings in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after acquiring an additional 415 shares during the period. True Wealth Design LLC grew its position in shares of Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after purchasing an additional 1,487 shares during the last quarter. V Square Quantitative Management LLC increased its stake in shares of Pinterest by 51.5% in the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after purchasing an additional 590 shares during the period. Finally, Manchester Capital Management LLC lifted its position in shares of Pinterest by 17,692.3% during the 4th quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock worth $67,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Trading Down 1.5 %

Shares of PINS stock opened at $31.01 on Tuesday. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The firm’s 50 day moving average is $34.67 and its 200-day moving average is $32.42. The firm has a market capitalization of $21.03 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. On average, equities research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PINS. Raymond James raised their target price on Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $34.00 to $47.00 in a research report on Friday, February 7th. Cantor Fitzgerald increased their price target on shares of Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Wedbush raised their price target on shares of Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Barclays increased their target price on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now directly owns 30,236 shares in the company, valued at $920,081.48. This trade represents a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Wanjiku Juanita Walcott sold 12,253 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $32.24, for a total value of $395,036.72. Following the completion of the sale, the insider now owns 228,510 shares of the company’s stock, valued at $7,367,162.40. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 351,753 shares of company stock worth $11,640,201 over the last 90 days. Insiders own 7.11% of the company’s stock.

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.