Eagle Rock Investment Company LLC Acquires 3,881 Shares of Pinterest, Inc. (NYSE:PINS)

Eagle Rock Investment Company LLC raised its holdings in Pinterest, Inc. (NYSE:PINS) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,498 shares of the company’s stock after buying an additional 3,881 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Pinterest were worth $1,986,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PINS. Maverick Capital Ltd. increased its holdings in shares of Pinterest by 47.6% during the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock valued at $1,851,000 after acquiring an additional 18,430 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Pinterest by 8.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock worth $49,855,000 after buying an additional 119,367 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Pinterest by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after buying an additional 32,539 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Pinterest by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after buying an additional 87,041 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its position in shares of Pinterest by 20.3% during the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after acquiring an additional 68,096 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Pinterest Trading Down 0.8 %

Pinterest stock opened at $30.39 on Friday. The firm’s 50 day simple moving average is $30.39 and its 200 day simple moving average is $32.57. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The firm has a market capitalization of $20.54 billion, a PE ratio of 101.29, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the firm’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 sale, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction 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 $4,893,491.84. This trade represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,157 shares of company stock valued at $589,131. 7.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PINS has been the topic of several recent research reports. Robert W. Baird dropped their price target on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a report on Tuesday, December 10th. TD Cowen began coverage on Pinterest in a report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price target for the company. UBS Group dropped their price objective on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 target price (down previously from $40.00) on shares of Pinterest in a research note on Monday. Nine investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.86.

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.