Bridgewater Associates LP Has $51.20 Million Stake in Pinterest, Inc. (NYSE:PINS)

Bridgewater Associates LP boosted its position in Pinterest, Inc. (NYSE:PINS) by 158.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,581,652 shares of the company’s stock after purchasing an additional 969,775 shares during the quarter. Bridgewater Associates LP’s holdings in Pinterest were worth $51,198,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PINS. Dynasty Wealth Management LLC acquired a new stake in Pinterest in the 1st quarter worth about $243,000. Tidal Investments LLC grew its holdings in shares of Pinterest by 38.2% during the 1st quarter. Tidal Investments LLC now owns 62,374 shares of the company’s stock worth $2,163,000 after purchasing an additional 17,241 shares in the last quarter. Comerica Bank increased its position in shares of Pinterest by 5.4% in the first quarter. Comerica Bank now owns 49,865 shares of the company’s stock worth $1,729,000 after purchasing an additional 2,561 shares during the period. iA Global Asset Management Inc. acquired a new position in Pinterest in the first quarter valued at about $722,000. Finally, Plato Investment Management Ltd lifted its position in Pinterest by 398.3% during the first quarter. Plato Investment Management Ltd now owns 8,655 shares of the company’s stock worth $300,000 after purchasing an additional 6,918 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Stock Up 1.6 %

Shares of NYSE PINS opened at $31.00 on Wednesday. The company’s fifty day simple moving average is $31.80 and its 200 day simple moving average is $35.59. The firm has a market cap of $20.95 billion, a PE ratio of 103.34, a P/E/G ratio of 2.19 and a beta of 1.02. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

Analyst Upgrades and Downgrades

PINS has been the subject of several analyst reports. Robert W. Baird dropped their target price on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. UBS Group cut their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Raymond James decreased their price target on Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $41.00 price target on shares of Pinterest in a report on Monday, October 7th. Finally, Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.86.

Insider Buying and Selling

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 value of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This represents a 9.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the transaction, the director now directly owns 32,536 shares in the company, valued at $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,580 shares of company stock valued at $1,063,499. 7.11% of the stock is owned by company insiders.

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.