SteelPeak Wealth LLC Buys 29,819 Shares of Pinterest, Inc. (NYSE:PINS)

SteelPeak Wealth LLC boosted its stake in Pinterest, Inc. (NYSE:PINS) by 184.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,943 shares of the company’s stock after acquiring an additional 29,819 shares during the period. SteelPeak Wealth LLC’s holdings in Pinterest were worth $1,332,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after acquiring an additional 415 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Pinterest in the third quarter worth about $37,000. Crewe Advisors LLC raised its position in shares of Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after purchasing an additional 550 shares during the period. True Wealth Design LLC lifted its stake in shares of Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after buying an additional 1,487 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its holdings in Pinterest by 44.2% in the 3rd quarter. Rakuten Securities Inc. now owns 2,294 shares of the company’s stock worth $74,000 after buying an additional 703 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Stock Performance

PINS stock opened at $33.23 on Thursday. The firm has a market cap of $22.46 billion, a P/E ratio of 110.77, a P/E/G ratio of 1.61 and a beta of 1.04. The firm’s fifty day moving average is $30.88 and its 200 day moving average is $31.83. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19.

Analysts Set New Price Targets

PINS has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $41.00 target price on shares of Pinterest in a research report on Monday, October 7th. Robert W. Baird cut their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. KeyCorp decreased their price target on Pinterest from $39.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, January 10th. Finally, Benchmark reaffirmed a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.70.

Insider Buying and Selling at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the sale, the director now owns 32,536 shares of the company’s stock, valued at $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock worth $589,131 over the last three months. 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.