Empirical Asset Management LLC Acquires New Position in Pinterest, Inc. (NYSE:PINS)

Empirical Asset Management LLC acquired a new stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 23,902 shares of the company's stock, valued at approximately $693,000.

Other institutional investors have also recently made changes to their positions in the company. Brown Shipley& Co Ltd acquired a new position in shares of Pinterest in the second quarter valued at about $25,000. GAMMA Investing LLC boosted its holdings in shares of Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock valued at $31,000 after acquiring an additional 415 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Pinterest in the third quarter worth $37,000. Crewe Advisors LLC raised its holdings in shares of Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company's stock worth $37,000 after purchasing an additional 550 shares during the last quarter. Finally, True Wealth Design LLC lifted its position in Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company's stock valued at $49,000 after purchasing an additional 1,487 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.

Pinterest Stock Up 0.3 %

PINS traded up $0.11 on Friday, reaching $30.50. The company had a trading volume of 7,837,399 shares, compared to its average volume of 7,792,416. The stock has a 50-day moving average price of $30.41 and a 200-day moving average price of $32.33. The stock has a market capitalization of $20.61 billion, a PE ratio of 101.65, a P/E/G ratio of 1.52 and a beta of 1.04. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company reduced their price objective on Pinterest from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. UBS Group decreased their price objective on shares of Pinterest from $52.00 to $46.00 and set a "buy" rating on the stock in a report on Friday, November 8th. TD Cowen assumed coverage on Pinterest in a research report on Tuesday, November 26th. They set a "buy" rating and a $38.00 price target for the company. Rosenblatt Securities cut their price objective on shares of Pinterest from $48.00 to $46.00 and set a "buy" rating for the company in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. reduced their price objective on Pinterest from $38.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.70.

Insiders Place Their Bets

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now owns 246,921 shares in the company, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the sale, the director now directly owns 30,236 shares in the company, valued at $920,081.48. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock valued at $589,131 over the last quarter. Company 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.