Pinterest, Inc. (NYSE:PINS) Shares Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC lifted its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 184.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,943 shares of the company's stock after buying an additional 29,819 shares during the quarter. SteelPeak Wealth LLC's holdings in Pinterest were worth $1,332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC grew its stake in 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 buying an additional 415 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Pinterest during the 3rd quarter valued at approximately $37,000. Crewe Advisors LLC boosted its holdings in 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 purchasing an additional 550 shares during the last quarter. True Wealth Design LLC raised 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 acquiring an additional 1,487 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its stake in shares of Pinterest by 44.2% in the 3rd quarter. Rakuten Securities Inc. now owns 2,294 shares of the company's stock valued at $74,000 after purchasing an additional 703 shares during the period. 88.81% of the stock is currently owned by institutional investors.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now owns 246,921 shares in the company, valued at $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total value of $35,627.00. Following the completion of the transaction, the director now owns 31,386 shares of the company's stock, valued at approximately $972,338.28. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,157 shares of company stock valued at $589,131. Corporate insiders own 7.11% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PINS. Raymond James decreased their price objective on shares of Pinterest from $40.00 to $34.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Piper Sandler cut Pinterest from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $41.00 to $36.00 in a report on Tuesday, December 10th. TD Cowen began coverage on shares of Pinterest in a research report on Tuesday, November 26th. They issued a "buy" rating and a $38.00 target price for the company. Benchmark reiterated a "hold" rating on shares of Pinterest in a report on Friday, November 8th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $41.00 price target on shares of Pinterest in a report on Monday, October 7th. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat.com, Pinterest currently has an average rating of "Moderate Buy" and an average price target of $40.70.

Pinterest Trading Down 0.8 %

Shares of PINS traded down $0.26 during midday trading on Thursday, reaching $32.97. 8,547,872 shares of the company were exchanged, compared to its average volume of 10,413,743. The stock has a 50-day moving average price of $30.88 and a 200-day moving average price of $31.83. The company has a market cap of $22.28 billion, a price-to-earnings ratio of 109.89, a P/E/G ratio of 1.61 and a beta of 1.04. 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.