Greenwood Capital Associates LLC Boosts Stock Position in Pinterest, Inc. (NYSE:PINS)

by · The Markets Daily

Greenwood Capital Associates LLC boosted its stake in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 9.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 153,940 shares of the company’s stock after purchasing an additional 13,323 shares during the period. Greenwood Capital Associates LLC’s holdings in Pinterest were worth $4,983,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its position in Pinterest by 12.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,636 shares of the company’s stock worth $958,000 after purchasing an additional 3,101 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Pinterest by 195.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company’s stock worth $75,000 after acquiring an additional 1,422 shares during the period. Norden Group LLC acquired a new position in Pinterest during the first quarter worth $214,000. Van ECK Associates Corp grew its position in shares of Pinterest by 7.2% in the first quarter. Van ECK Associates Corp now owns 63,298 shares of the company’s stock valued at $2,195,000 after purchasing an additional 4,243 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in shares of Pinterest by 7.6% during the first quarter. Janney Montgomery Scott LLC now owns 59,678 shares of the company’s stock worth $2,069,000 after purchasing an additional 4,237 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Price Performance

Shares of NYSE:PINS opened at $32.28 on Tuesday. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The business has a 50-day moving average of $31.75 and a two-hundred day moving average of $36.37. The firm has a market capitalization of $22.15 billion, a PE ratio of 119.56, a P/E/G ratio of 2.47 and a beta of 1.02.

Wall Street Analyst Weigh In

PINS has been the topic of several research analyst reports. UBS Group lowered their price objective on Pinterest from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. The Goldman Sachs Group raised their price objective on Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Piper Sandler reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pinterest in a report on Friday, September 13th. Roth Mkm dropped their price target on Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Finally, Barclays cut their target price on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus price target of $43.56.

View Our Latest Report on Pinterest

Insider Buying and Selling

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

Pinterest Profile

(Free Report)

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.

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