Cornercap Investment Counsel Inc. Has $604,000 Stake in Pinterest, Inc. (NYSE:PINS)

Cornercap Investment Counsel Inc. lessened its position in Pinterest, Inc. (NYSE:PINS) by 19.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,645 shares of the company’s stock after selling 4,552 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Pinterest were worth $604,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Brown Shipley& Co Ltd acquired a new position in shares of Pinterest in the second quarter valued at approximately $25,000. Wellington Shields Capital Management LLC acquired a new position in Pinterest in the 2nd quarter valued at approximately $26,000. Hexagon Capital Partners LLC raised its stake in shares of Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after acquiring an additional 459 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares during the period. Finally, Rothschild Investment LLC bought a new stake in shares of Pinterest in the second quarter worth $35,000. 88.81% of the stock is currently owned by institutional investors.

Pinterest Price Performance

NYSE PINS opened at $28.24 on Friday. The company has a fifty day moving average price of $31.73 and a 200-day moving average price of $36.23. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The firm has a market cap of $19.38 billion, a price-to-earnings ratio of 94.14, a PEG ratio of 2.29 and a beta of 1.02.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. The trade was a 9.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PINS. Roth Mkm cut their target price on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Piper Sandler reiterated an “overweight” rating and issued a $41.00 target price (down from $45.00) on shares of Pinterest in a report on Friday, November 8th. Benchmark restated a “hold” rating on shares of Pinterest in a report on Friday, November 8th. UBS Group reduced their price objective on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Wells Fargo & Company lowered their target price on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Seven equities 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 company’s stock. According to MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and an average price target of $42.00.

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.