Diversify Advisory Services LLC Has $2.03 Million Stake in Pinterest, Inc. (NYSE:PINS)

Diversify Advisory Services LLC boosted its stake in Pinterest, Inc. (NYSE:PINS) by 211.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 66,106 shares of the company’s stock after buying an additional 44,869 shares during the quarter. Diversify Advisory Services LLC’s holdings in Pinterest were worth $2,027,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Maverick Capital Ltd. grew its stake in shares of Pinterest by 47.6% during the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after acquiring an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in Pinterest by 8.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock worth $49,855,000 after purchasing an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Pinterest by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after purchasing an additional 32,539 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Pinterest by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after purchasing an additional 87,041 shares during the period. Finally, Kornitzer Capital Management Inc. KS lifted its stake in shares of Pinterest by 20.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock valued at $13,087,000 after buying an additional 68,096 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of Pinterest stock opened at $30.50 on Monday. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The company has a fifty day moving average of $30.41 and a 200-day moving average of $32.33. The stock has a market capitalization of $20.61 billion, a price-to-earnings ratio of 101.65, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04.

Wall Street Analysts Forecast Growth

PINS has been the topic of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $41.00 target price on shares of Pinterest in a report on Monday, October 7th. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price objective (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a research note on Tuesday, December 10th. Wedbush upgraded Pinterest from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, UBS Group cut their price objective on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Nine analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.70.

Insiders Place Their Bets

In related news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the sale, the chief accounting officer now directly owns 158,468 shares in the company, valued at $4,893,491.84. This represents a 2.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now directly owns 246,921 shares of the company’s stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock valued at $589,131 over the last three months. Insiders own 7.11% of the company’s stock.

Pinterest Company 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.