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

GAMMA Investing LLC grew its position in Pinterest, Inc. (NYSE:PINSFree Report) by 63.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,069 shares of the company’s stock after acquiring an additional 415 shares during the quarter. GAMMA Investing LLC’s holdings in Pinterest were worth $31,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PINS. Brown Shipley& Co Ltd bought a new stake in Pinterest in the second quarter worth about $25,000. V Square Quantitative Management LLC bought a new stake in shares of Pinterest during the 3rd quarter worth approximately $37,000. Crewe Advisors LLC boosted its holdings in Pinterest by 91.1% during the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after acquiring an additional 550 shares during the period. True Wealth Design LLC grew its position in Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after acquiring an additional 1,487 shares during the last quarter. Finally, Rakuten Securities Inc. increased its stake in Pinterest by 44.2% in the third quarter. Rakuten Securities Inc. now owns 2,294 shares of the company’s stock worth $74,000 after purchasing an additional 703 shares during the period. Institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

PINS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Raymond James decreased their price target on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. UBS Group dropped their price objective on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Morgan Stanley lifted their target price on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 price target on the stock. Nine analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and a consensus target price of $40.86.

Read Our Latest Stock Report on Pinterest

Pinterest Price Performance

PINS opened at $29.79 on Wednesday. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The stock has a market capitalization of $20.13 billion, a PE ratio of 99.30, a P/E/G ratio of 2.17 and a beta of 1.04. The firm’s fifty day moving average price is $30.52 and its 200 day moving average price is $32.60.

Insider Buying and Selling

In related news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the transaction, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. This trade represents a 2.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total transaction of $35,627.00. Following the sale, the director now directly owns 31,386 shares in the company, valued at approximately $972,338.28. This trade represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,007 shares of company stock worth $554,137 in the last three months. 7.11% of the stock is owned by insiders.

About Pinterest

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINSFree Report).

Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

Receive News & Ratings for Pinterest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinterest and related companies with MarketBeat.com's FREE daily email newsletter.