Pacer Advisors Inc. Sells 397,864 Shares of Pinterest, Inc. $PINS

Pacer Advisors Inc. lowered its holdings in Pinterest, Inc. (NYSE:PINS) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,221,063 shares of the company’s stock after selling 397,864 shares during the period. Pacer Advisors Inc.’s holdings in Pinterest were worth $71,452,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brookstone Capital Management purchased a new position in shares of Pinterest in the 3rd quarter worth about $609,000. Swedbank AB increased its holdings in Pinterest by 13.6% during the third quarter. Swedbank AB now owns 8,441,986 shares of the company’s stock worth $271,579,000 after buying an additional 1,011,101 shares during the last quarter. Vontobel Holding Ltd. raised its position in Pinterest by 14.0% in the third quarter. Vontobel Holding Ltd. now owns 50,363 shares of the company’s stock worth $1,620,000 after acquiring an additional 6,174 shares during the period. IFM Investors Pty Ltd boosted its stake in Pinterest by 0.9% in the third quarter. IFM Investors Pty Ltd now owns 118,763 shares of the company’s stock valued at $3,990,000 after acquiring an additional 1,106 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Pinterest by 13.7% in the third quarter. Farther Finance Advisors LLC now owns 37,819 shares of the company’s stock valued at $1,217,000 after acquiring an additional 4,564 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PINS shares. The Goldman Sachs Group decreased their price target on shares of Pinterest from $43.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Monness Crespi & Hardt downgraded Pinterest from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. dropped their price target on Pinterest from $44.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Wall Street Zen downgraded Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Morgan Stanley decreased their price objective on Pinterest from $41.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.97.

Pinterest Price Performance

Pinterest stock opened at $25.94 on Friday. The firm has a market capitalization of $17.52 billion, a P/E ratio of 9.01, a PEG ratio of 1.66 and a beta of 0.89. Pinterest, Inc. has a one year low of $23.68 and a one year high of $40.90. The business has a fifty day moving average price of $28.11 and a 200-day moving average price of $32.93.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The business had revenue of $665.93 million for the quarter. Sell-side analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Wanjiku Juanita Walcott sold 74,047 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the transaction, the insider directly owned 301,214 shares in the company, valued at approximately $8,099,644.46. This trade represents a 19.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.06% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.