Brooklyn Investment Group Purchases New Holdings in Pinterest, Inc. (NYSE:PINS)

Brooklyn Investment Group purchased a new stake in Pinterest, Inc. (NYSE:PINS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,131 shares of the company’s stock, valued at approximately $198,000.

Other hedge funds also recently modified their holdings of the company. Baillie Gifford & Co. raised its stake in shares of Pinterest by 9.5% in the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock valued at $445,818,000 after purchasing an additional 880,398 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after acquiring an additional 2,996,750 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Pinterest by 6.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company’s stock worth $262,695,000 after acquiring an additional 380,431 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Pinterest by 8.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock valued at $192,423,000 after acquiring an additional 460,708 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Pinterest by 31.6% in 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 period. Institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was 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 trade represents a 9.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the sale, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,580 shares of company stock valued at $1,063,499 over the last ninety days. Insiders own 7.11% of the company’s stock.

Pinterest Trading Up 1.6 %

Pinterest stock opened at $31.00 on Wednesday. The company has a market cap of $20.95 billion, a PE ratio of 103.34, a PEG ratio of 2.19 and a beta of 1.02. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The company’s 50-day moving average is $31.80 and its two-hundred day moving average is $35.59.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PINS. Roth Mkm decreased their price objective on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Robert W. Baird cut their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Benchmark reiterated a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. TD Cowen started coverage on shares of Pinterest in a research note on Tuesday. They issued a “buy” rating and a $38.00 target price on the stock. Finally, Citigroup dropped their target price on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $41.86.

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.