Salem Investment Counselors Inc. Reduces Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Salem Investment Counselors Inc. trimmed its position in shares of Pinterest, Inc. (NYSE:PINS) by 1.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 88,486 shares of the company’s stock after selling 1,380 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Pinterest were worth $2,566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Brown Shipley& Co Ltd bought a new position in Pinterest in the 2nd quarter worth approximately $25,000. GAMMA Investing LLC boosted its holdings in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after acquiring an additional 415 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Pinterest in the third quarter valued at $37,000. Crewe Advisors LLC raised its stake in shares of Pinterest by 91.1% during the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after purchasing an additional 550 shares during the period. Finally, True Wealth Design LLC lifted its holdings in Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after purchasing an additional 1,487 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Price Performance

Shares of Pinterest stock opened at $30.42 on Tuesday. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The business’s 50 day simple moving average is $30.58 and its two-hundred day simple moving average is $32.70. The stock has a market capitalization of $20.56 billion, a P/E ratio of 101.40, a price-to-earnings-growth ratio of 2.17 and a beta of 1.04.

Insider Transactions at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now owns 32,536 shares of the company’s stock, valued at $967,295.28. This trade represents a 3.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,157 shares of company stock worth $592,685. Insiders own 7.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PINS. Robert W. Baird decreased their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Roth Mkm decreased their target price on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Benchmark reissued a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Raymond James decreased 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. Finally, Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Friday. Nine analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.86.

Pinterest 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.