43,528 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by CWA Asset Management Group LLC

CWA Asset Management Group LLC bought a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 43,528 shares of the company's stock, valued at approximately $1,409,000.

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

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 0.00 % 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 the SEC website. Also, 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 transaction of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This 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.

Analyst Ratings Changes

Several brokerages have issued reports on PINS. Raymond James dropped their price objective on shares of Pinterest from $40.00 to $34.00 and set an "outperform" rating on the stock in a research note on Friday. Citigroup dropped their price target on shares of Pinterest from $51.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. Roth Mkm reduced their price objective on shares of Pinterest from $39.00 to $33.00 and set a "neutral" rating for the company in a research report on Friday. Stifel Nicolaus dropped their target price on Pinterest from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company reduced their price target on Pinterest from $49.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. Based on data from MarketBeat.com, Pinterest presently has an average rating of "Moderate Buy" and an average price target of $42.22.

Pinterest Stock Down 14.0 %

Shares of PINS traded down $4.75 during trading hours on Friday, reaching $29.18. 55,970,287 shares of the company traded hands, compared to its average volume of 7,231,749. The stock has a market capitalization of $20.02 billion, a PE ratio of 97.27, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. The stock has a fifty day simple moving average of $31.82 and a 200 day simple moving average of $36.36. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

About Pinterest

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.