GAMMA Investing LLC Acquires New Holdings in Pinterest, Inc. (NYSE:PINS)

GAMMA Investing LLC acquired a new position in Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 720 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds also recently bought and sold shares of the stock. Rakuten Securities Inc. bought a new position in shares of Pinterest in the 4th quarter worth $30,000. Washington Trust Advisors Inc. raised its holdings in Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares in the last quarter. Clear Street Markets LLC purchased a new stake in shares of Pinterest during the third quarter valued at about $41,000. Blue Trust Inc. boosted its holdings in shares of Pinterest by 87.7% in the 4th quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock valued at $44,000 after buying an additional 557 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of Pinterest by 396.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,300 shares of the company’s stock worth $48,000 after buying an additional 1,038 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Loop Capital increased their target price on shares of Pinterest from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Monday. Sanford C. Bernstein raised their price objective on Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 1st. Piper Sandler boosted their target price on Pinterest from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. KeyCorp decreased their price target on Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada boosted their price target on Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.26.

Insider Transactions at Pinterest

In related news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the transaction, the insider now owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the transaction, the insider now owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the transaction, the director now directly owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The disclosure for this sale can be found here. Insiders have sold 164,471 shares of company stock worth $5,773,431 over the last quarter. 7.11% of the stock is currently owned by insiders.

Pinterest Stock Up 2.4 %

Shares of PINS opened at $41.38 on Tuesday. Pinterest, Inc. has a 52 week low of $20.88 and a 52 week high of $41.60. The company has a market capitalization of $28.27 billion, a price-to-earnings ratio of 197.06, a PEG ratio of 4.02 and a beta of 0.99. The stock’s 50-day moving average price is $34.90 and its 200-day moving average price is $34.68.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The firm had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. As a group, equities analysts anticipate that Pinterest, Inc. will post 0.43 EPS for the current fiscal year.

Pinterest 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.