Belpointe Asset Management LLC bought a new position in shares of Pinterest, Inc. (NYSE:PINS – Get Rating) during the 4th quarter, HoldingsChannel.com reports. The fund bought 2,827 shares of the company’s stock, valued at approximately $69,000.
A number of other hedge funds have also bought and sold shares of the stock. Cohanzick Management LLC purchased a new stake in Pinterest during the 1st quarter valued at about $25,000. Manchester Capital Management LLC raised its position in Pinterest by 2,668.9% during the 3rd quarter. Manchester Capital Management LLC now owns 1,246 shares of the company’s stock worth $29,000 after buying an additional 1,201 shares during the last quarter. Stonebridge Capital Advisors LLC lifted its stake in Pinterest by 5,138.9% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,886 shares of the company’s stock valued at $46,000 after acquiring an additional 1,850 shares during the period. Clearstead Trust LLC purchased a new stake in shares of Pinterest in the 4th quarter valued at $62,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of Pinterest during the fourth quarter worth $64,000. Institutional investors and hedge funds own 71.95% of the company’s stock.
Insider Transactions at Pinterest
In related news, SVP Naveen Gavini sold 11,185 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $21.29, for a total value of $238,128.65. Following the completion of the sale, the senior vice president now owns 339,322 shares of the company’s stock, valued at $7,224,165.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pinterest news, CFO Todd R. Morgenfeld sold 60,537 shares of Pinterest stock in a transaction on Monday, March 27th. The stock was sold at an average price of $28.32, for a total value of $1,714,407.84. Following the sale, the chief financial officer now owns 512,820 shares in the company, valued at $14,523,062.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Naveen Gavini sold 11,185 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $21.29, for a total value of $238,128.65. Following the transaction, the senior vice president now owns 339,322 shares of the company’s stock, valued at $7,224,165.38. The disclosure for this sale can be found here. Insiders have sold a total of 150,648 shares of company stock worth $4,083,099 in the last quarter. Company insiders own 6.85% of the company’s stock.
Pinterest Trading Up 1.1 %
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on PINS shares. Loop Capital cut their price target on Pinterest from $32.00 to $28.00 in a research report on Tuesday, May 2nd. Credit Suisse Group reduced their price target on Pinterest from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, April 28th. Piper Sandler lowered their price objective on Pinterest from $32.00 to $31.00 in a research report on Friday, April 28th. Rosenblatt Securities lifted their target price on shares of Pinterest from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, April 28th. Finally, DA Davidson lowered their price target on shares of Pinterest from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday, March 29th. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Pinterest presently has a consensus rating of “Hold” and a consensus price target of $28.40.
Pinterest, Inc engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. The company was founded by Benjamin Silbermann, Paul C. Sciarra, and Evan Sharp in October 2008 and is headquartered in San Francisco, CA.
- Get a free copy of the StockNews.com research report on Pinterest (PINS)
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