Brooklyn Investment Group Makes New $198,000 Investment in Pinterest, Inc. (NYSE:PINS)

Brooklyn Investment Group purchased a new position in Pinterest, Inc. (NYSE:PINS) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,131 shares of the company’s stock, valued at approximately $198,000.

Other hedge funds also recently modified their holdings of the company. Kornitzer Capital Management Inc. KS raised its holdings in Pinterest by 20.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after buying an additional 68,096 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Pinterest by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after acquiring an additional 32,539 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Pinterest by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after acquiring an additional 87,041 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Pinterest by 8.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after purchasing an additional 460,708 shares during the period. Finally, GDS Wealth Management bought a new position in Pinterest during the 3rd quarter worth about $2,517,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of PINS opened at $31.00 on Wednesday. The firm has a market cap of $20.95 billion, a P/E ratio of 103.34, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The firm’s 50-day simple moving average is $31.80 and its 200 day simple moving average is $35.59.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Susquehanna cut their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a report on Wednesday, July 31st. 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 for the company. Benchmark reiterated a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Oppenheimer reduced their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Stifel Nicolaus lowered their price target on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.86.

Insider Transactions at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the sale, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. The trade was a 9.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the sale, the director now directly owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,580 shares of company stock worth $1,063,499 over the last quarter. 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.