Pinterest, Inc. (NYSE:PINS) Shares Acquired by ARK Investment Management LLC

ARK Investment Management LLC increased its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,368,549 shares of the company's stock after purchasing an additional 38,820 shares during the quarter. Pinterest makes up about 1.3% of ARK Investment Management LLC's investment portfolio, making the stock its 23rd largest holding. ARK Investment Management LLC owned about 0.64% of Pinterest worth $141,410,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PINS. Allspring Global Investments Holdings LLC raised its stake in Pinterest by 195.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company's stock valued at $75,000 after buying an additional 1,422 shares during the last quarter. Norden Group LLC purchased a new position in shares of Pinterest in the first quarter worth $214,000. Janney Montgomery Scott LLC raised its stake in shares of Pinterest by 7.6% in the first quarter. Janney Montgomery Scott LLC now owns 59,678 shares of the company's stock worth $2,069,000 after purchasing an additional 4,237 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Pinterest by 26.1% in the first quarter. Geneos Wealth Management Inc. now owns 3,566 shares of the company's stock worth $124,000 after purchasing an additional 737 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Pinterest by 19.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 20,424 shares of the company's stock worth $708,000 after purchasing an additional 3,371 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now owns 33,686 shares of the company's stock, valued at $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the sale, the director now owns 33,686 shares in the company, valued at $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.11% of the company's stock.

Pinterest Stock Down 14.0 %

Pinterest stock traded down $4.75 during midday trading on Friday, reaching $29.18. 55,937,006 shares of the stock traded hands, compared to its average volume of 9,503,379. The stock's fifty day moving average is $31.88 and its 200-day moving average is $36.36. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The stock has a market cap of $20.02 billion, a P/E ratio of 108.06, a PEG ratio of 2.60 and a beta of 1.02.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Citigroup decreased their price target on Pinterest from $51.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st. Roth Mkm decreased their price target on Pinterest from $39.00 to $33.00 and set a "neutral" rating for the company in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on Pinterest from $38.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday. Raymond James reduced their price objective on Pinterest from $40.00 to $34.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Stifel Nicolaus reduced their price objective on Pinterest from $46.00 to $45.00 and set a "buy" rating for the company in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $42.22.

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.