Howe & Rusling Inc. Raises Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Howe & Rusling Inc. lifted its holdings in Pinterest, Inc. (NYSE:PINS) by 3.3% in the third quarter, Holdings Channel reports. The fund owned 133,012 shares of the company’s stock after purchasing an additional 4,227 shares during the quarter. Howe & Rusling Inc.’s holdings in Pinterest were worth $4,306,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brown Shipley& Co Ltd bought a new stake in shares of Pinterest during the 2nd quarter worth approximately $25,000. Wellington Shields Capital Management LLC purchased a new stake in shares of Pinterest during the second quarter valued at $26,000. Hexagon Capital Partners LLC increased its holdings in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after purchasing an additional 459 shares during the period. GAMMA Investing LLC increased its holdings in Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in shares of Pinterest in the second quarter worth $35,000. 88.81% of the stock is owned by institutional investors.

Pinterest Trading Up 2.4 %

Pinterest stock opened at $29.70 on Wednesday. The stock has a market cap of $20.07 billion, a P/E ratio of 99.00, a PEG ratio of 2.02 and a beta of 1.02. The company has a 50-day moving average price of $31.70 and a 200 day moving average price of $36.10. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,129,154.72. This represents a 3.30 % 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 the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Raymond James dropped their price objective on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Piper Sandler reiterated an “overweight” rating and issued a $41.00 price objective (down previously from $45.00) on shares of Pinterest in a research report on Friday, November 8th. Barclays lowered their target price on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. cut their price target on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Finally, UBS Group lowered their price target on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

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.