Pinterest, Inc. (NYSE:PINS) Stake Raised by Prospera Private Wealth LLC

Prospera Private Wealth LLC grew its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 38.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,713 shares of the company’s stock after purchasing an additional 2,146 shares during the period. Prospera Private Wealth LLC’s holdings in Pinterest were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. 1832 Asset Management L.P. acquired a new position in Pinterest in the second quarter worth approximately $98,655,000. Ninety One UK Ltd boosted its holdings in shares of Pinterest by 44.6% in the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock worth $239,991,000 after buying an additional 1,679,348 shares during the period. Acadian Asset Management LLC increased its position in shares of Pinterest by 31.6% in the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock worth $248,793,000 after acquiring an additional 1,356,459 shares in the last quarter. AMI Asset Management Corp acquired a new stake in shares of Pinterest during the second quarter valued at approximately $57,569,000. Finally, American Century Companies Inc. lifted its position in shares of Pinterest by 57.6% in the 2nd quarter. American Century Companies Inc. now owns 3,042,065 shares of the company’s stock valued at $134,064,000 after acquiring an additional 1,112,163 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Down 1.5 %

Shares of NYSE PINS opened at $29.24 on Thursday. The business’s 50 day moving average is $31.71 and its two-hundred day moving average is $36.02. The company has a market cap of $19.76 billion, a P/E ratio of 97.45, a P/E/G ratio of 2.02 and a beta of 1.02. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PINS shares. Raymond James lowered their price objective on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Barclays decreased their price objective on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Benchmark restated a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research report on Thursday, September 12th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Pinterest has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the sale, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.11% of the company’s stock.

About Pinterest

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.