18,672 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by Bellwether Advisors LLC

Bellwether Advisors LLC bought a new stake in Pinterest, Inc. (NYSE:PINS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 18,672 shares of the company’s stock, valued at approximately $604,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brown Shipley& Co Ltd acquired a new stake in shares of Pinterest in the second quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new position in Pinterest during the 2nd quarter worth about $26,000. Hexagon Capital Partners LLC boosted its holdings in Pinterest by 157.7% during the 2nd 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 period. GAMMA Investing LLC grew its position in Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after acquiring an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in Pinterest during the second quarter worth about $35,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Activity at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 9.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest 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 completion of the transaction, the director now owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is owned by insiders.

Pinterest Trading Down 0.1 %

PINS stock opened at $29.66 on Wednesday. The company has a market capitalization of $20.05 billion, a P/E ratio of 99.00, a PEG ratio of 2.02 and a beta of 1.02. The business has a 50 day simple moving average of $31.71 and a 200-day simple moving average of $36.02. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19.

Analyst Ratings Changes

A number of brokerages recently weighed in on PINS. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a report on Thursday, September 12th. Benchmark restated a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. UBS Group reduced their price objective on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a research note on Monday, September 23rd. They set a “buy” rating and a $43.00 target price for the company. Finally, Rosenblatt Securities reduced their price target on Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Pinterest Company 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.