Pacer Advisors Inc. raised its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 94.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,033 shares of the company's stock after acquiring an additional 25,828 shares during the quarter. Pacer Advisors Inc.'s holdings in Pinterest were worth $1,538,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock worth $31,000 after purchasing an additional 415 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Pinterest in the third quarter worth $37,000. Crewe Advisors LLC lifted its position in shares of Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company's stock valued at $37,000 after acquiring an additional 550 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of 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 acquiring an additional 1,487 shares during the last quarter. Finally, Rakuten Securities Inc. increased its position in Pinterest by 44.2% during the 3rd quarter. Rakuten Securities Inc. now owns 2,294 shares of the company's stock worth $74,000 after purchasing an additional 703 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.
Insider Transactions at Pinterest
In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 246,921 shares of the company's stock, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares in the company, valued at approximately $967,295.28. This trade represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,157 shares of company stock valued at $589,131. 7.11% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
PINS has been the topic of several analyst reports. KeyCorp decreased their price target on shares of Pinterest from $39.00 to $37.00 and set an "overweight" rating on the stock in a research note on Friday, January 10th. Benchmark reaffirmed a "hold" rating on shares of Pinterest in a research note on Friday, November 8th. Robert W. Baird reduced their price target on Pinterest from $41.00 to $36.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Raymond James lowered their price objective on Pinterest from $40.00 to $34.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Finally, Wedbush reiterated an "outperform" rating and set a $38.00 target price on shares of Pinterest in a research report on Tuesday, January 28th. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Pinterest has an average rating of "Moderate Buy" and an average target price of $40.70.
View Our Latest Analysis on Pinterest
Pinterest Price Performance
PINS traded up $0.06 during trading hours on Friday, reaching $32.99. 8,996,184 shares of the stock traded hands, compared to its average volume of 9,465,764. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company has a market cap of $22.30 billion, a price-to-earnings ratio of 109.98, a PEG ratio of 1.69 and a beta of 1.04. The firm's fifty day simple moving average is $31.01 and its two-hundred day simple moving average is $31.71.
Pinterest Profile
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Free Report)
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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