Alpha DNA Investment Management LLC acquired a new position in shares of Pinterest, Inc. (NYSE:PINS – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,096 shares of the company’s stock, valued at approximately $930,000.
Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Pinterest by 1,188.9% during the fourth quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after purchasing an additional 5,524,796 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Pinterest by 128.2% during the 1st quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock worth $193,473,000 after buying an additional 3,134,776 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Pinterest in the 2nd quarter valued at $98,655,000. Contour Asset Management LLC raised its position in shares of Pinterest by 79.5% during the fourth quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock worth $169,242,000 after acquiring an additional 2,023,500 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Pinterest by 45.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock valued at $198,846,000 after acquiring an additional 1,798,494 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.
Pinterest Trading Up 3.9 %
Shares of PINS stock opened at $31.66 on Wednesday. The firm’s fifty day moving average price is $32.18 and its two-hundred day moving average price is $36.68. Pinterest, Inc. has a 1 year low of $23.59 and a 1 year high of $45.19. The firm has a market capitalization of $21.73 billion, a P/E ratio of 150.77, a PEG ratio of 3.40 and a beta of 1.00.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. KeyCorp lowered their price objective on Pinterest from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Robert W. Baird lowered their price target on shares of Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Evercore ISI cut their price objective on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. The Goldman Sachs Group raised their price objective on shares of Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.87.
View Our Latest Research Report on Pinterest
Insider Transactions at Pinterest
In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.11% of the company’s stock.
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.
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