Pinterest, Inc. (NYSE:PINS) Stake Lifted by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its stake in Pinterest, Inc. (NYSE:PINS) by 49.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,304 shares of the company’s stock after buying an additional 7,709 shares during the period. Pallas Capital Advisors LLC’s holdings in Pinterest were worth $676,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PINS. Sequoia Financial Advisors LLC grew its holdings in Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock worth $205,000 after buying an additional 313 shares in the last quarter. Hantz Financial Services Inc. boosted its position in Pinterest by 3.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after acquiring an additional 339 shares during the period. Leibman Financial Services Inc. grew its stake in shares of Pinterest by 1.2% in the third quarter. Leibman Financial Services Inc. now owns 31,758 shares of the company’s stock worth $1,028,000 after purchasing an additional 368 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Pinterest by 0.7% during the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock valued at $2,510,000 after purchasing an additional 372 shares during the period. Finally, Commerce Bank raised its stake in shares of Pinterest by 3.3% during the third quarter. Commerce Bank now owns 11,868 shares of the company’s stock valued at $384,000 after purchasing an additional 378 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Trading Down 2.0 %

PINS stock opened at $29.79 on Wednesday. The firm has a market cap of $20.13 billion, a PE ratio of 99.30, a PEG ratio of 2.17 and a beta of 1.04. The company has a fifty day simple moving average of $30.52 and a 200 day simple moving average of $32.60. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a research report on Tuesday, December 10th. Rosenblatt Securities reduced their price target on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company lowered their price objective on shares of Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday. Robert W. Baird cut their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Pinterest in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and a consensus target price of $40.86.

Insider Activity at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the sale, the insider now directly owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the transaction, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at $4,893,491.84. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,007 shares of company stock valued at $554,137. Corporate insiders own 7.11% of the company’s stock.

Pinterest 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.