Vinva Investment Management Ltd Sells 253,519 Shares of Pinterest, Inc. (NYSE:PINS)

Vinva Investment Management Ltd decreased its position in Pinterest, Inc. (NYSE:PINS) by 87.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 35,063 shares of the company’s stock after selling 253,519 shares during the quarter. Vinva Investment Management Ltd’s holdings in Pinterest were worth $1,139,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Pinterest by 0.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,982 shares of the company’s stock worth $4,013,000 after acquiring an additional 1,008 shares in the last quarter. Bell Investment Advisors Inc boosted its holdings in shares of Pinterest by 485.3% in the 3rd quarter. Bell Investment Advisors Inc now owns 4,033 shares of the company’s stock worth $131,000 after buying an additional 3,344 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Pinterest in the 3rd quarter worth about $11,109,000. Bridgewater Associates LP boosted its holdings in shares of Pinterest by 158.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,581,652 shares of the company’s stock worth $51,198,000 after buying an additional 969,775 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Pinterest in the 3rd quarter worth about $198,000. Institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the transaction, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,287 shares of company stock worth $1,547,820. Insiders own 7.11% of the company’s stock.

Pinterest Trading Down 0.1 %

Shares of Pinterest stock opened at $30.30 on Friday. The company’s 50-day moving average price is $31.80 and its 200-day moving average price is $35.44. The company has a market cap of $20.47 billion, a price-to-earnings ratio of 100.99, a PEG ratio of 2.17 and a beta of 1.02. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Oppenheimer cut their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. UBS Group cut their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” 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. TD Cowen assumed coverage on shares of Pinterest in a report on Tuesday. They issued a “buy” rating and a $38.00 price target on the stock. Finally, Rosenblatt Securities dropped their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.63.

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.