Mainstream Capital Management LLC Acquires New Holdings in Pinterest, Inc. (NYSE:PINS)

Mainstream Capital Management LLC bought a new position in Pinterest, Inc. (NYSE:PINS) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 8,200 shares of the company’s stock, valued at approximately $265,000.

Other large investors have also recently bought and sold shares of the company. Brown Shipley& Co Ltd purchased a new position in shares of Pinterest during the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of Pinterest during the 2nd quarter valued at $26,000. Hexagon Capital Partners LLC grew its position in shares of Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in shares of Pinterest during the 2nd quarter valued at $35,000. 88.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the sale, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the sale, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

Pinterest Price Performance

PINS stock opened at $33.93 on Friday. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The company has a market cap of $23.28 billion, a P/E ratio of 125.67, a PEG ratio of 2.49 and a beta of 1.02. The firm has a 50-day moving average of $31.88 and a 200 day moving average of $36.36.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Raymond James cut their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Piper Sandler reiterated an “overweight” rating and issued a $45.00 target price on shares of Pinterest in a research report on Friday, September 13th. Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Wednesday, July 31st. Barclays cut their target price on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Finally, Evercore ISI cut their target price on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.56.

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.