Mercer Global Advisors Inc. ADV Takes $392,000 Position in Pinterest, Inc. (NYSE:PINS)

Mercer Global Advisors Inc. ADV acquired a new stake in shares of Pinterest, Inc. (NYSE:PINS – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,138 shares of the company’s stock, valued at approximately $392,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cohanzick Management LLC bought a new position in shares of Pinterest during the first quarter valued at about $25,000. Manchester Capital Management LLC raised its stake in shares of Pinterest by 2,668.9% during the third quarter. Manchester Capital Management LLC now owns 1,246 shares of the company’s stock valued at $29,000 after acquiring an additional 1,201 shares during the last quarter. Stonebridge Capital Advisors LLC raised its stake in shares of Pinterest by 5,138.9% during the first 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 last quarter. Clearstead Trust LLC bought a new position in shares of Pinterest during the fourth quarter valued at about $62,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of Pinterest during the fourth quarter valued at about $64,000. 71.95% of the stock is owned by institutional investors.

Pinterest Trading Up 2.1 %

Shares of NYSE PINS opened at $23.76 on Wednesday. The firm’s 50 day moving average price is $25.48 and its 200-day moving average price is $25.18. Pinterest, Inc. has a 52-week low of $16.14 and a 52-week high of $29.27.

Insider Activity at Pinterest

In related news, CFO Todd R. Morgenfeld sold 60,537 shares of the stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $28.32, for a total transaction of $1,714,407.84. Following the transaction, the chief financial officer now owns 512,820 shares in the company, valued at $14,523,062.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Pinterest news, SVP Naveen Gavini sold 11,185 shares of the stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $27.95, for a total value of $312,620.75. Following the transaction, the senior vice president now directly owns 350,507 shares in the company, valued at $9,796,670.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Todd R. Morgenfeld sold 60,537 shares of the stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $28.32, for a total transaction of $1,714,407.84. Following the completion of the transaction, the chief financial officer now owns 512,820 shares in the company, valued at $14,523,062.40. 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 over the last quarter. Company insiders own 6.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Pinterest from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, April 28th. Royal Bank of Canada reduced their price target on shares of Pinterest from $30.00 to $28.00 and set a “sector perform” rating on the stock in a research report on Friday, April 28th. Morgan Stanley reduced their price target on shares of Pinterest from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, April 28th. DA Davidson reduced their price target on shares of Pinterest from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 29th. Finally, Credit Suisse Group reduced their price target on shares of Pinterest from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, April 28th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $28.40.

Pinterest Company Profile

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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.