CWA Asset Management Group LLC Invests $1.41 Million in Pinterest, Inc. (NYSE:PINS)

CWA Asset Management Group LLC bought a new stake in shares of Pinterest, Inc. (NYSE:PINS) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 43,528 shares of the company’s stock, valued at approximately $1,409,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PINS. 1832 Asset Management L.P. bought a new position in shares of Pinterest in the second quarter worth approximately $98,655,000. Ninety One UK Ltd increased its position in shares of Pinterest by 44.6% in the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock valued at $239,991,000 after acquiring an additional 1,679,348 shares during the period. Acadian Asset Management LLC raised its stake in shares of Pinterest by 31.6% during the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after acquiring an additional 1,356,459 shares during the last quarter. AMI Asset Management Corp purchased a new stake in shares of Pinterest during the second quarter worth about $57,569,000. Finally, American Century Companies Inc. grew its stake in shares of Pinterest by 57.6% in the second quarter. American Century Companies Inc. now owns 3,042,065 shares of the company’s stock worth $134,064,000 after purchasing an additional 1,112,163 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction 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 in the company, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, October 16th. The stock was 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 $1,129,154.72. This trade 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 at this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction 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 directly 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 disclosure for this sale can be found here. Company insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PINS shares. Wells Fargo & Company dropped their price objective on Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Evercore ISI dropped their price target on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Benchmark reissued a “hold” rating on shares of Pinterest in a research report on Friday. KeyCorp raised their target price on shares of Pinterest from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, Susquehanna reduced their price target on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.22.

Pinterest Trading Down 14.0 %

Shares of NYSE:PINS opened at $29.18 on Friday. The company has a 50-day moving average price of $31.82 and a 200 day moving average price of $36.33. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The company has a market cap of $20.02 billion, a price-to-earnings ratio of 97.27, a PEG ratio of 2.60 and a beta of 1.02.

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.