Golden State Equity Partners Grows Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Golden State Equity Partners raised its position in shares of Pinterest, Inc. (NYSE:PINS) by 23,687.8% during the fourth quarter, HoldingsChannel reports. The firm owned 17,603 shares of the company’s stock after purchasing an additional 17,529 shares during the period. Golden State Equity Partners’ holdings in Pinterest were worth $510,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PINS. Point72 Asset Management L.P. purchased a new stake in Pinterest during the third quarter valued at about $153,829,000. Southpoint Capital Advisors LP purchased a new position in shares of Pinterest in the third quarter worth about $123,006,000. Ontario Teachers Pension Plan Board increased its holdings in shares of Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after buying an additional 2,996,750 shares during the period. Nordea Investment Management AB increased its holdings in shares of Pinterest by 122.1% in the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after buying an additional 2,093,248 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Pinterest by 582.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company’s stock worth $65,741,000 after buying an additional 1,934,653 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the transaction, the director now directly owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the transaction, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock valued at $589,131 in the last ninety days. 7.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on PINS shares. KeyCorp decreased their price objective on Pinterest from $39.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Robert W. Baird decreased their price objective on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Wedbush reiterated an “outperform” rating and issued a $38.00 price objective on shares of Pinterest in a report on Tuesday, January 28th. Roth Mkm decreased their price objective on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Finally, Wells Fargo & Company reduced their price target on Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and a consensus price target of $40.70.

Pinterest Stock Up 0.2 %

Shares of PINS opened at $32.99 on Monday. The business’s 50 day moving average price is $31.01 and its 200-day moving average price is $31.65. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The stock has a market cap of $22.30 billion, a P/E ratio of 109.98, a P/E/G ratio of 1.68 and a beta of 1.06.

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.