SRS Investment Management LLC Invests $4.08 Million in Pinterest (NASDAQ:PINS)
SRS Investment Management LLC purchased a new position in Pinterest (NASDAQ:PINS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 150,000 shares of the company’s stock, valued at approximately $4,083,000. Pinterest comprises approximately 0.1% of SRS Investment Management LLC’s portfolio, making the stock its 26th largest position.
Other large investors have also recently modified their holdings of the company. Quad Cities Investment Group LLC acquired a new stake in shares of Pinterest in the second quarter worth approximately $27,000. Pathstone Family Office LLC acquired a new position in Pinterest during the second quarter worth $38,000. US Bancorp DE acquired a new position in Pinterest during the second quarter worth $50,000. Crewe Advisors LLC acquired a new position in Pinterest during the second quarter worth $54,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in Pinterest during the second quarter worth $80,000.
NASDAQ:PINS traded down $0.19 on Friday, reaching $29.95. The company’s stock had a trading volume of 114,547 shares, compared to its average volume of 6,226,968. Pinterest has a 12-month low of $23.05 and a 12-month high of $36.83. The company has a 50 day moving average of $32.35.
A number of equities analysts have weighed in on the company. Wedbush boosted their price objective on Pinterest from $33.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Deutsche Bank raised Pinterest from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $26.00 to $40.00 in a research note on Friday, August 2nd. Pivotal Research restated a “hold” rating and issued a $32.00 target price (up previously from $29.00) on shares of Pinterest in a research report on Friday, August 2nd. Argus upgraded Pinterest from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Thursday, August 15th. Finally, Nomura lifted their target price on Pinterest from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.53.
There is no company description available for Pinterest Inc
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