R Squared Ltd Buys Shares of 5,840 Pinterest, Inc. (NYSE:PINS)

R Squared Ltd purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,840 shares of the company’s stock, valued at approximately $169,000.

A number of other hedge funds also recently modified their holdings of the stock. SteelPeak Wealth LLC grew its holdings in Pinterest by 184.9% during the fourth quarter. SteelPeak Wealth LLC now owns 45,943 shares of the company’s stock valued at $1,332,000 after purchasing an additional 29,819 shares during the period. Revolve Wealth Partners LLC purchased a new stake in Pinterest in the 4th quarter worth about $252,000. Pacer Advisors Inc. raised its stake in Pinterest by 94.9% in the 4th quarter. Pacer Advisors Inc. now owns 53,033 shares of the company’s stock valued at $1,538,000 after acquiring an additional 25,828 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Pinterest by 2.8% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock valued at $366,000 after purchasing an additional 342 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its position in Pinterest by 7.4% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 36,046 shares of the company’s stock worth $1,045,000 after purchasing an additional 2,472 shares during the period. Institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PINS. UBS Group dropped their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price target (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Oppenheimer decreased their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Benchmark restated a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. Finally, Rosenblatt Securities decreased their price target on Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.70.

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.

Insider Activity

In other news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the transaction, the chief accounting officer now owns 158,468 shares in the company, valued at approximately $4,893,491.84. This trade represents a 2.37 % 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, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s 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 owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,157 shares of company stock valued at $589,131. 7.11% of the stock is currently owned by insiders.

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.