Van ECK Associates Corp Has $2.63 Million Stake in Pinterest, Inc. (NYSE:PINS)

Van ECK Associates Corp grew its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 30.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 83,418 shares of the company's stock after acquiring an additional 19,508 shares during the quarter. Van ECK Associates Corp's holdings in Pinterest were worth $2,631,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Brown Shipley& Co Ltd bought a new stake in Pinterest during the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new stake in Pinterest in the second quarter worth about $26,000. Hexagon Capital Partners LLC grew its position in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company's stock valued at $33,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC increased its stake in Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company's stock valued at $34,000 after buying an additional 405 shares during the period. Finally, Rothschild Investment LLC bought a new stake in shares of Pinterest during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 88.81% of the company's stock.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business's stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the sale, the chief financial officer now owns 297,351 shares of the company's stock, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Gokul Rajaram sold 1,150 shares of the company's 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 owns 33,686 shares in the company, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business's stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the sale, the chief financial officer now owns 297,351 shares of the company's stock, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.11% of the company's stock.

Wall Street Analyst Weigh In

PINS has been the subject of several recent analyst reports. Roth Mkm decreased their price objective on shares of Pinterest from $39.00 to $33.00 and set a "neutral" rating for the company in a report on Friday. KeyCorp decreased their price target on Pinterest from $45.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday. Wedbush boosted their price objective on Pinterest from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Friday. Deutsche Bank Aktiengesellschaft began coverage on Pinterest in a research note on Monday, September 23rd. They set a "buy" rating and a $43.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price target on shares of Pinterest from $38.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat, Pinterest currently has an average rating of "Moderate Buy" and an average target price of $42.00.

Pinterest Stock Up 4.1 %

Shares of Pinterest stock traded up $1.20 on Monday, hitting $30.38. 23,201,832 shares of the company traded hands, compared to its average volume of 9,566,425. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The company has a market cap of $20.85 billion, a PE ratio of 102.14, a PEG ratio of 2.25 and a beta of 1.02. The company has a 50-day moving average price of $31.82 and a 200 day moving average price of $36.36.

Pinterest Company 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.