Point72 Asset Management L.P. Purchases Shares of 4,752,197 Pinterest, Inc. (NYSE:PINS)

Point72 Asset Management L.P. acquired a new stake in shares of Pinterest, Inc. (NYSE:PINS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,752,197 shares of the company’s stock, valued at approximately $153,829,000.

Other institutional investors have also recently made changes to their positions in the company. Brown Shipley& Co Ltd bought a new position in Pinterest during the second quarter valued at $25,000. Wellington Shields Capital Management LLC bought a new stake in Pinterest during the second quarter worth approximately $26,000. Hexagon Capital Partners LLC raised its position in Pinterest by 157.7% during 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 lifted its stake in shares of Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in shares of Pinterest in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company’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 transaction, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This represents a 9.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now owns 246,921 shares of the company’s stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,287 shares of company stock valued at $1,547,820. Corporate insiders own 7.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PINS shares. Wedbush upgraded Pinterest from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 target price on shares of Pinterest in a research note on Thursday, September 12th. Roth Mkm decreased their price target on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Finally, KeyCorp cut their price objective on Pinterest from $45.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and a consensus price target of $41.65.

Pinterest Stock Up 2.9 %

NYSE PINS opened at $31.32 on Wednesday. The firm has a market cap of $21.16 billion, a PE ratio of 104.39, a price-to-earnings-growth ratio of 2.18 and a beta of 1.02. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The company has a 50 day moving average price of $31.80 and a 200 day moving average price of $35.18.

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.