Weiss Asset Management LP Invests $1.30 Million in Pinterest, Inc. (NYSE:PINS)

Weiss Asset Management LP bought a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 40,033 shares of the company's stock, valued at approximately $1,296,000.

Several other large investors have also recently bought and sold shares of PINS. Cetera Investment Advisers boosted its stake in Pinterest by 103.4% during the first quarter. Cetera Investment Advisers now owns 63,535 shares of the company's stock valued at $2,203,000 after buying an additional 32,305 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 405 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Pinterest in the 2nd quarter worth approximately $265,000. Diversified Trust Co lifted its stake in Pinterest by 23.1% during the second quarter. Diversified Trust Co now owns 26,112 shares of the company's stock valued at $1,151,000 after purchasing an additional 4,892 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Pinterest by 6.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,340 shares of the company's stock worth $1,293,000 after buying an additional 1,704 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PINS shares. Piper Sandler reiterated an "overweight" rating and set a $41.00 price objective (down previously from $45.00) on shares of Pinterest in a research report on Friday, November 8th. Rosenblatt Securities decreased their price target on Pinterest from $48.00 to $46.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Cantor Fitzgerald restated an "overweight" rating and set a $41.00 price objective on shares of Pinterest in a report on Monday, October 7th. TD Cowen initiated coverage on shares of Pinterest in a report on Tuesday, November 26th. They issued a "buy" rating and a $38.00 target price for the company. Finally, Oppenheimer cut their price target on shares of Pinterest from $45.00 to $40.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Pinterest has an average rating of "Moderate Buy" and an average price target of $41.65.

Pinterest Stock Up 2.4 %

Shares of NYSE:PINS traded up $0.79 on Monday, reaching $33.07. The company had a trading volume of 11,962,250 shares, compared to its average volume of 9,638,189. The stock has a market capitalization of $22.35 billion, a P/E ratio of 107.60, a P/E/G ratio of 2.28 and a beta of 1.02. The stock has a 50-day moving average price of $31.77 and a 200 day moving average price of $34.97. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19.

Insider Activity at Pinterest

In related news, 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 transaction, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. This trade represents a 2.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business's stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares of the company's stock, valued at approximately $9,729,324.72. This represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,287 shares of company stock valued at $1,547,820. Corporate insiders own 7.11% of the company's stock.

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.