77,751 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by GDS Wealth Management

GDS Wealth Management bought a new position in Pinterest, Inc. (NYSE:PINS - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 77,751 shares of the company's stock, valued at approximately $2,517,000.

A number of other hedge funds also recently made changes to their positions in PINS. Leibman Financial Services Inc. increased its holdings in Pinterest by 0.9% in the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company's stock worth $1,383,000 after purchasing an additional 266 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Pinterest by 5.2% during the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company's stock worth $205,000 after purchasing an additional 313 shares during the last quarter. Raymond James Trust N.A. increased its stake in shares of Pinterest by 1.1% in the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company's stock valued at $1,323,000 after buying an additional 319 shares during the period. Toronto Dominion Bank raised its holdings in Pinterest by 0.7% in the 2nd quarter. Toronto Dominion Bank now owns 56,961 shares of the company's stock valued at $2,510,000 after buying an additional 372 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. boosted its position in Pinterest by 1.6% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company's stock worth $1,022,000 after buying an additional 373 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Stock Performance

NYSE:PINS traded up $1.32 on Monday, hitting $30.50. The stock had a trading volume of 16,020,788 shares, compared to its average volume of 9,533,518. The stock has a market cap of $20.93 billion, a P/E ratio of 101.74, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The firm's fifty day simple moving average is $31.82 and its two-hundred day simple moving average is $36.36.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated 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 transaction, the chief financial officer now owns 297,351 shares of the company's stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated 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 directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PINS. KeyCorp lowered their target price on Pinterest from $45.00 to $39.00 and set an "overweight" rating for the company in a research report on Monday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $48.00 price objective on shares of Pinterest in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Pinterest in a research report on Monday, September 23rd. They set a "buy" rating and a $43.00 target price for the company. Roth Mkm dropped their price target on shares of Pinterest from $39.00 to $33.00 and set a "neutral" rating on the stock in a research report on Friday. Finally, Stifel Nicolaus decreased their price objective on shares of Pinterest from $46.00 to $45.00 and set a "buy" rating for the company in a research report on Wednesday, July 31st. Eight equities research 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

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.