Plato Investment Management Ltd Grows Stock Position in Pinterest, Inc. (NYSE:PINS)

Plato Investment Management Ltd boosted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 79.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,833 shares of the company’s stock after purchasing an additional 11,912 shares during the period. Plato Investment Management Ltd’s holdings in Pinterest were worth $868,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brown Shipley& Co Ltd bought a new position in Pinterest during the 2nd quarter valued at approximately $25,000. Wellington Shields Capital Management LLC bought a new position in shares of Pinterest in the 2nd quarter worth approximately $26,000. Hexagon Capital Partners LLC raised its position in shares of Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after acquiring an additional 459 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after acquiring an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Pinterest in the 2nd quarter worth approximately $35,000. Institutional investors own 88.81% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

PINS has been the subject of several research reports. Oppenheimer decreased their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Roth Mkm decreased their target price on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. UBS Group decreased their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Raymond James decreased their target price on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Benchmark reissued a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Pinterest Price Performance

NYSE PINS opened at $29.36 on Friday. The business’s fifty day moving average price is $31.76 and its 200-day moving average price is $36.27. The stock has a market capitalization of $20.15 billion, a price-to-earnings ratio of 97.87, a PEG ratio of 2.29 and a beta of 1.02. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19.

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.