Executive Wealth Management LLC bought a new position in shares of Pinterest, Inc. (NYSE:PINS) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,894 shares of the company’s stock, valued at approximately $214,000.
Several other institutional investors have also recently added to or reduced their stakes in PINS. Strs Ohio acquired a new position in Pinterest in the third quarter valued at approximately $791,000. Diversified Trust Co purchased a new stake in shares of Pinterest in the fourth quarter valued at approximately $308,000. Symphony Financial Ltd. Co. purchased a new stake in shares of Pinterest in the fourth quarter valued at approximately $375,000. DAVENPORT & Co LLC increased its position in shares of Pinterest by 30.9% during the fourth quarter. DAVENPORT & Co LLC now owns 8,685 shares of the company’s stock worth $572,000 after purchasing an additional 2,050 shares in the last quarter. Finally, Sowell Financial Services LLC increased its position in shares of Pinterest by 173.1% during the fourth quarter. Sowell Financial Services LLC now owns 3,127 shares of the company’s stock worth $206,000 after purchasing an additional 1,982 shares in the last quarter. 58.21% of the stock is owned by hedge funds and other institutional investors.
NYSE:PINS opened at $59.71 on Wednesday. The stock’s 50 day moving average price is $73.07 and its 200 day moving average price is $71.13. The company has a market capitalization of $38.03 billion, a PE ratio of -93.30 and a beta of 1.40. Pinterest, Inc. has a 52-week low of $15.82 and a 52-week high of $89.90.
Several analysts have issued reports on the company. Piper Sandler dropped their target price on Pinterest from $85.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, April 28th. Pivotal Research upped their target price on Pinterest from $85.00 to $107.50 and gave the company a “buy” rating in a report on Friday, February 5th. KeyCorp dropped their target price on Pinterest from $92.00 to $89.00 and set an “overweight” rating for the company in a report on Tuesday, May 4th. Citigroup dropped their target price on Pinterest from $85.00 to $65.00 in a report on Monday. Finally, JPMorgan Chase & Co. decreased their price target on Pinterest from $102.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 28th. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $80.58.
In other Pinterest news, Director Jeremy S. Levine sold 150,000 shares of the stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $86.47, for a total transaction of $12,970,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Naveen Gavini sold 26,259 shares of the stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $70.83, for a total value of $1,859,924.97. The disclosure for this sale can be found here. Insiders have sold a total of 827,687 shares of company stock valued at $63,867,719 over the last ninety days.
Pinterest, Inc provides visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others. It shows them visual recommendations based on people personal taste and interests.
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