Deutsche Bank AG Sells 1,746,060 Shares of Pinterest, Inc. (NYSE:PINS)

Deutsche Bank AG cut its position in shares of Pinterest, Inc. (NYSE:PINS - Get Rating) by 11.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,883,106 shares of the company's stock after selling 1,746,060 shares during the period. Deutsche Bank AG owned about 1.88% of Pinterest worth $312,802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PINS. Cohanzick Management LLC bought a new stake in Pinterest during the 1st quarter valued at $25,000. CI Investments Inc. raised its position in shares of Pinterest by 114.2% in the 4th quarter. CI Investments Inc. now owns 1,634 shares of the company's stock worth $40,000 after acquiring an additional 871 shares in the last quarter. Stonebridge Capital Advisors LLC raised its position in shares of Pinterest by 5,138.9% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,886 shares of the company's stock worth $46,000 after acquiring an additional 1,850 shares in the last quarter. Clearstead Trust LLC bought a new position in shares of Pinterest in the 4th quarter worth $62,000. Finally, Y.D. More Investments Ltd bought a new position in shares of Pinterest in the 4th quarter worth $64,000. 71.95% of the stock is owned by institutional investors.

In related news, Director Jeffrey D. Jordan sold 5,000 shares of the company's stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $23.74, for a total value of $118,700.00. Following the completion of the transaction, the director now owns 181,715 shares of the company's stock, valued at approximately $4,313,914.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pinterest news, Director Jeffrey D. Jordan sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $23.74, for a total transaction of $118,700.00. Following the completion of the transaction, the director now owns 181,715 shares of the company's stock, valued at $4,313,914.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Naveen Gavini sold 11,185 shares of the stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $27.95, for a total value of $312,620.75. Following the transaction, the senior vice president now directly owns 350,507 shares of the company's stock, valued at approximately $9,796,670.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 155,648 shares of company stock valued at $4,201,799. 6.85% of the stock is owned by company insiders.

Several research analysts have recently commented on the company. Sanford C. Bernstein reduced their price target on Pinterest from $28.00 to $23.00 and set a "market perform" rating for the company in a research report on Friday, April 28th. Piper Sandler reduced their price target on Pinterest from $32.00 to $31.00 in a research report on Friday, April 28th. DA Davidson reduced their target price on Pinterest from $24.00 to $23.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 29th. JPMorgan Chase & Co. reduced their target price on Pinterest from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Friday, April 28th. Finally, Loop Capital reduced their target price on Pinterest from $32.00 to $28.00 in a research report on Tuesday, May 2nd. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Pinterest currently has a consensus rating of "Hold" and an average target price of $27.96.

NYSE PINS traded down $0.31 during trading hours on Thursday, reaching $24.04. The company's stock had a trading volume of 1,396,157 shares, compared to its average volume of 12,002,121. The firm has a market capitalization of $16.44 billion, a price-to-earnings ratio of -54.14 and a beta of 0.99. Pinterest, Inc. has a 1-year low of $16.77 and a 1-year high of $29.27. The company's 50-day moving average is $24.90 and its two-hundred day moving average is $25.19.

Pinterest, Inc engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. The company was founded by Benjamin Silbermann, Paul C. Sciarra, and Evan Sharp in October 2008 and is headquartered in San Francisco, CA.

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