Nwam LLC Invests $2.99 Million in Pinterest, Inc. (NYSE:PINS)

Nwam LLC bought a new position in Pinterest, Inc. (NYSE:PINS) during the third quarter, HoldingsChannel.com reports. The fund bought 92,456 shares of the company’s stock, valued at approximately $2,993,000.

A number of other institutional investors have also recently modified their holdings of PINS. O Shaughnessy Asset Management LLC grew its stake in shares of Pinterest by 16.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 18,951 shares of the company’s stock worth $657,000 after acquiring an additional 2,731 shares during the last quarter. UniSuper Management Pty Ltd boosted its position in shares of Pinterest by 107.5% during the first quarter. UniSuper Management Pty Ltd now owns 8,300 shares of the company’s stock valued at $288,000 after buying an additional 4,300 shares during the last quarter. Axxcess Wealth Management LLC purchased a new stake in shares of Pinterest during the first quarter valued at $223,000. Lazard Asset Management LLC boosted its position in shares of Pinterest by 61.5% during the first quarter. Lazard Asset Management LLC now owns 299,460 shares of the company’s stock valued at $10,381,000 after buying an additional 114,091 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of Pinterest during the first quarter valued at $983,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PINS shares. Rosenblatt Securities dropped their price objective on Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Piper Sandler reaffirmed an “overweight” rating and set a $41.00 price objective (down from $45.00) on shares of Pinterest in a research report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $41.00 price objective on shares of Pinterest in a research report on Monday, October 7th. Wells Fargo & Company dropped their price objective on Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a report on Thursday, September 12th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Pinterest Stock Up 2.4 %

NYSE PINS opened at $30.01 on Friday. The stock’s 50-day moving average price is $31.71 and its 200-day moving average price is $35.93. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The company has a market capitalization of $20.28 billion, a P/E ratio of 100.04, a price-to-earnings-growth ratio of 2.10 and a beta of 1.02.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction that occurred on Friday, September 27th. The stock was 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 of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 9.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on 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 directly owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,580 shares of company stock valued at $1,063,499. 7.11% of the stock is owned by company insiders.

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.