1620 Investment Advisors Inc. Acquires Shares of 3,672 Pinterest, Inc. (NYSE:PINS)

1620 Investment Advisors Inc. bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,672 shares of the company’s stock, valued at approximately $106,000.

A number of other hedge funds also recently modified their holdings of PINS. Empowered Funds LLC increased its holdings in Pinterest by 7.4% in the 3rd quarter. Empowered Funds LLC now owns 9,165 shares of the company’s stock valued at $297,000 after buying an additional 635 shares during the period. Quest Partners LLC increased its stake in Pinterest by 1,109.4% in the third quarter. Quest Partners LLC now owns 9,796 shares of the company’s stock valued at $317,000 after acquiring an additional 8,986 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Pinterest during the third quarter valued at approximately $458,000. Commerce Bank lifted its stake in Pinterest by 3.3% during the third quarter. Commerce Bank now owns 11,868 shares of the company’s stock worth $384,000 after purchasing an additional 378 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Pinterest by 1.7% in the 3rd quarter. Jennison Associates LLC now owns 1,615,844 shares of the company’s stock valued at $52,305,000 after purchasing an additional 27,331 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on PINS shares. Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $34.00 to $47.00 in a report on Friday, February 7th. Wells Fargo & Company increased their target price on shares of Pinterest from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. KeyCorp decreased their price target on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, January 10th. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.30.

Insider Activity at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the sale, the director now directly owns 6,274 shares of the company’s stock, valued at $195,497.84. This represents a 94.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the sale, the chief accounting officer now directly owns 144,129 shares in the company, valued at approximately $5,399,072.34. This trade represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 207,812 shares of company stock worth $6,798,857. 7.11% of the stock is owned by company insiders.

Pinterest Price Performance

NYSE PINS opened at $32.45 on Friday. The firm has a market cap of $22.01 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.95 and a beta of 1.02. The company has a fifty day moving average price of $34.39 and a 200-day moving average price of $32.27. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. On average, research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.