Atom Investors LP Invests $1.06 Million in Pinterest, Inc. (NYSE:PINS)

Atom Investors LP bought a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 32,784 shares of the company's stock, valued at approximately $1,061,000.

Several other institutional investors have also added to or reduced their stakes in the business. Sequoia Financial Advisors LLC boosted its holdings in Pinterest by 5.2% in the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company's stock worth $205,000 after acquiring an additional 313 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Pinterest by 1.1% in the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company's stock worth $1,323,000 after acquiring an additional 319 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Pinterest by 3.7% in the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company's stock worth $304,000 after acquiring an additional 339 shares in the last quarter. Leibman Financial Services Inc. lifted its holdings in shares of Pinterest by 1.2% during the third quarter. Leibman Financial Services Inc. now owns 31,758 shares of the company's stock worth $1,028,000 after purchasing an additional 368 shares during the period. Finally, Toronto Dominion Bank lifted its holdings in shares of Pinterest by 0.7% during the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company's stock worth $2,510,000 after purchasing an additional 372 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.

Pinterest Price Performance

Pinterest stock traded up $0.96 during trading hours on Wednesday, hitting $32.30. The company had a trading volume of 12,584,913 shares, compared to its average volume of 9,640,146. The firm has a market cap of $21.83 billion, a PE ratio of 107.67, a PEG ratio of 2.18 and a beta of 1.02. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The firm has a 50-day moving average of $31.80 and a 200 day moving average of $35.16.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Raymond James decreased their target price on Pinterest from $40.00 to $34.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Robert W. Baird cut their price objective on Pinterest from $41.00 to $36.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. KeyCorp cut their price objective on Pinterest from $45.00 to $39.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Piper Sandler reiterated an "overweight" rating and set a $41.00 price target (down from $45.00) on shares of Pinterest in a research report on Friday, November 8th. Finally, Roth Mkm dropped their target price on Pinterest from $39.00 to $33.00 and set a "neutral" rating for the company in a report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Pinterest currently has an average rating of "Moderate Buy" and an average price target of $41.65.

Insider Buying and Selling

In related news, CAO Andrea Acosta sold 3,845 shares of the business's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the transaction, the chief accounting officer now directly owns 158,468 shares in the company, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the sale, the insider now directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,287 shares of company stock worth $1,547,820. Corporate insiders own 7.11% of the company's stock.

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.