Resonant Capital Advisors LLC Sells 384 Shares of Pinterest, Inc. (NYSE:PINS)

Resonant Capital Advisors LLC trimmed its stake in shares of Pinterest, Inc. (NYSE:PINS) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,101 shares of the company’s stock after selling 384 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Pinterest were worth $322,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. State Street Corp grew its stake in Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after buying an additional 156,748 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Pinterest by 0.8% in the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after purchasing an additional 76,920 shares during the last quarter. Ontario Teachers Pension Plan Board increased its stake in shares of Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after purchasing an additional 2,996,750 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Pinterest by 8.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after purchasing an additional 460,708 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Pinterest in the 3rd quarter valued at $153,829,000. 88.81% of the stock is owned by institutional investors.

Pinterest Stock Performance

PINS stock opened at $33.09 on Tuesday. The stock’s 50 day simple moving average is $31.01 and its 200 day simple moving average is $31.65. The company has a market cap of $22.36 billion, a P/E ratio of 110.31, a price-to-earnings-growth ratio of 1.68 and a beta of 1.04. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 32,536 shares in the company, valued at $967,295.28. This trade represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock worth $589,131 over the last quarter. 7.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Piper Sandler cut shares of Pinterest from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $41.00 to $36.00 in a research report on Tuesday, December 10th. 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 research report on Friday, November 8th. TD Cowen began coverage on shares of Pinterest in a research report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price target for the company. Raymond James reduced their price target on Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $41.00 price objective on shares of Pinterest in a report on Monday, October 7th. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.70.

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.