Golden State Equity Partners Purchases 17,529 Shares of Pinterest, Inc. (NYSE:PINS)

Golden State Equity Partners boosted its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 23,687.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,603 shares of the company's stock after buying an additional 17,529 shares during the period. Golden State Equity Partners' holdings in Pinterest were worth $510,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Maverick Capital Ltd. increased its position in Pinterest by 47.6% in the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company's stock valued at $1,851,000 after buying an additional 18,430 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Pinterest by 8.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company's stock valued at $49,855,000 after buying an additional 119,367 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Pinterest by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company's stock worth $27,326,000 after purchasing an additional 32,539 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Pinterest by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company's stock worth $137,669,000 after purchasing an additional 87,041 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its holdings in Pinterest by 20.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company's stock worth $13,087,000 after purchasing an additional 68,096 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of recent research reports. Benchmark reissued a "hold" rating on shares of Pinterest in a report on Friday, November 8th. Wells Fargo & Company decreased their price objective on Pinterest from $40.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Rosenblatt Securities decreased their price objective on Pinterest from $48.00 to $46.00 and set a "buy" rating for the company in a report on Friday, November 8th. TD Cowen began coverage on Pinterest in a report on Tuesday, November 26th. They set a "buy" rating and a $38.00 price objective for the company. Finally, KeyCorp reduced their target price on Pinterest from $39.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat, Pinterest has an average rating of "Moderate Buy" and a consensus price target of $40.70.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now owns 30,236 shares of the company's stock, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the sale, the chief accounting officer now directly owns 158,468 shares of the company's stock, valued at $4,893,491.84. This represents a 2.37 % 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 worth $589,131 over the last 90 days. Corporate insiders own 7.11% of the company's stock.

Pinterest Price Performance

NYSE:PINS opened at $32.99 on Monday. The company has a market cap of $22.30 billion, a P/E ratio of 109.98, a P/E/G ratio of 1.68 and a beta of 1.06. The stock's fifty day moving average price is $31.01 and its two-hundred day moving average price is $31.65. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.

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.

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