CWA Asset Management Group LLC Purchases New Shares in Pinterest, Inc. (NYSE:PINS)

CWA Asset Management Group LLC bought a new position in Pinterest, Inc. (NYSE:PINS) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 43,528 shares of the company’s stock, valued at approximately $1,409,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PINS. Brown Shipley& Co Ltd purchased a new stake in Pinterest in the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of Pinterest in the 2nd quarter worth approximately $26,000. Hexagon Capital Partners LLC grew its holdings in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after acquiring an additional 459 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after acquiring an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in Pinterest in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on 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 in the company, valued at $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the sale, the director now owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated 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 owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PINS shares. Oppenheimer cut their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday. Wells Fargo & Company reduced their target price on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pinterest in a report on Monday, September 23rd. They issued a “buy” rating and a $43.00 price target on the stock. Benchmark reissued a “hold” rating on shares of Pinterest in a research report on Friday. Finally, Susquehanna dropped their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.22.

Pinterest Stock Down 14.0 %

Shares of NYSE PINS opened at $29.18 on Friday. The firm has a market capitalization of $20.02 billion, a P/E ratio of 97.27, a P/E/G ratio of 2.60 and a beta of 1.02. The stock’s 50-day simple moving average is $31.82 and its two-hundred day simple moving average is $36.33. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19.

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.